S&P 500 Rises Near Records as Oil and Bond Markets Shift

The S&P 500 moved closer to record levels last week even as higher oil prices and bond market volatility created pressure on the index. A bank stock rose about 5 percent during the week.

A cybersecurity company recorded an 11.7 percent gain for the week, extending a six-week winning streak that included prior weekly increases of nearly 12.6 percent and nearly 16 percent. At least seven Wall Street firms raised price targets on the stock.

KeyBanc lifted its target to $700 from $525, while Cantor Fitzgerald moved its target to $700 from $550. Stifel, Morgan Stanley, Truist, TD Cowen, and Barclays also raised targets. One investment commentary service increased its target to $650 from $500 and set a peer company target at $255 from $200.

The same commentary service noted it trimmed positions twice since Monday and shifted its rating to a hold-equivalent level, citing the size of recent gains rather than any change in outlook.

Home improvement retailers reported comparable-store sales figures that aligned with each other for the first time in recent periods. An apparel and accessories company extended a weekly rally that reached nearly 50 percent. A coffee chain ended an artificial intelligence project.