S&P 500 Gets Closer to 5,000 as Stocks Push Higher: Markets Wrap.

The stock market, specifically the S&P 500, is approaching the milestone of 5,000 points. Investors are awaiting a record $42 billion sale of 10-year Treasuries, which could have a positive impact on both the equity and bond markets. Traders are also monitoring New York Community Bancorp, whose shares have fallen due to concerns about its financial position. Additionally, there are several central bank speakers scheduled, and the Federal Reserve is expected to make two to three interest rate cuts in 2024. Despite some concerns about the stock market, Barclays strategists believe that resilient economic growth in the US and a rebound in Europe will support equities. The 10-year Treasury auction is expected to be the largest ever, and analysts predict a solid auction reception. The Invesco QQQ Trust Series 1, an exchange-traded fund, is trading near key resistance levels and may experience further gains. In corporate news, Ford Motor Co. reported better-than-expected fourth-quarter results and forecasted higher profits for 2024. Snap Inc. had lower-than-projected revenue, while Alibaba Group Holding Ltd. approved $25 billion in stock repurchases. Uber Technologies Inc. reported strong global demand for rides and food delivery, and Chipotle Mexican Grill Inc. exceeded expectations with its fourth-quarter sales and profit. Key events for the week include China's PPI and CPI, US wholesale inventories and initial jobless claims, Treasury Secretary Janet Yellen's speech, and President [Extracted from the article]