There was no stopping Wall Street on the eve of the release of the Fed's latest FOMC minutes, with Microsoft acting as the locomotive and consolidating its position as the world's largest capitalization.

The S&P500 (+0.25% at 5,321) set its 25th closing record of the year... but only by a single point, failing to set a new all-time high.

The Nasdaq Composite (+0.22%) achieved an intraday/close double at 16,839 and 16,832 respectively, in the wake of Tesla +6.7%, Lam +2.3%, Microsoft +0.9% (new record and $3,189 billion capitalization).

Nvidia, which took a 'modest' +0.6% on the eve of its quarterly results (the most eagerly awaited publication for the first quarter of 2024), posted its best-ever closing at $953.9, for a record capitalization of $2,285 billion.285 billion.

The Dow Jones settled at +0.17% at 39,873 and remained stuck below 40,000 (after its -0.5% decline of the previous day, which broke the bullish momentum a little).

The 10-year T-Bonds eased -2.5 basis points to around 4.41%, after easing -8 basis points last week to one-month lows, before a deterioration on Friday.... and the '2 yr' erased -1.3 basis points to 4.824%.

'In our opinion, the minutes will have a more restrictive tone, in contrast to that of Jerome Powell's press conference, given that other members of the committee are more worried than he is about the effects of their policy', warned BofA.

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