Nasdaq and S&P 500 close at new high as AI boosts prices and yields ease. (PART-2)

That lowered two-year U.S. Treasury yields to 4.519%. Fed Governor Chris Waller said its inflation fight is unaffected by future balance sheet choices.

Fellow Fed Governor Adriana Kugler is cautiously optimistic that disinflation will continue without a labor market weakness and that the central bank has avoided a wage-price spiral. 

 According to Richmond Fed President Thomas Barkin, it is too early to tell when the Fed will decrease rates.

S&P 500 tech index <.SPLRCT> led 11 key sectors with a 1.78% gain, while utilities (.SPLRCU) had the poorest performance, falling 0.72%.

New York Community Bancorp (NYCB.N), opens new tab fell 25.89% after the regional lender found "material weaknesses" in internal controls related to its loan review and revised its fourth-quarter loss to 10 times higher, sending the KBW regional banking index (.KRX) 1.27% lower.

After forecasting 2017 revenue and earnings beyond Wall Street projections, Dell Technologies (DELL.N) rose 31.62%, its greatest daily percentage rise ever.

Boeing (BA.N) fell 1.83% after a report suggested it was in talks to buy Spirit AeroSystems (SPR.N), limiting Dow gains.

Advanced issues outweighed decliners 2.29-to-1 on the NYSE and 1.55-to-1 on the Nasdaq.

Advanced issues outweighed decliners 2.29-to-1 on the NYSE and 1.55-to-1 on the Nasdaq.

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