After a shaky start to the week, stocks pushed deeper into record territory Thursday with the airline sector and Big Tech continuing to lead the markets higher.
WK Kellogg, the maker of Froot Loops and other popular breakfast cereals, rose 30% after Nutella maker Ferrero announced a deal to buy the company.
Most of the sectors in the S&P 500 were up, with banks and consumer-focused companies accounting for much of the gains. JPMorgan rose 1.4% and McDonald’s was 2.5% higher, the AP reported.
The news sent momentary jitters through equity markets, but stocks had shrugged off all uncertainty by midweek to march higher still.
“The market has demonstrated a remarkable ability to hear what it wants to hear, see what it wants to see, and nothing is going to change its mind,” Eric Winograd, chief U.S. economist at AllianceBernstein, told Fortune last week.
