Traders on the floor of the New York Stock Exchange. Photo: Drew Angerer/Getty Images

The S&P 500 closed nearly 1% higher on Thursday, topping the previous closing record set back in April, while the Dow Jones Industrial Average rose 250 points and the Nasdaq ended 0.80% higher. Bond yields hit multi-year lows as more investors piled into U.S. treasuries.

Why it matters: As far as equities are concerned, the prospect that the Federal Reserve may cut interest rates outweighs any fears about the escalating trade tensions that spooked markets in recent weeks. The bond market, however, is signaling more concern that a Fed cut could indicate problems ahead for the U.S. economy.

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Ruth Bader Ginsburg will lie in state in Capitol's National Statuary Hall

Photo: Getty Images

House Speaker Nancy Pelosi announced Monday that the late Supreme Court Justice Ruth Bader Ginsburg will lie in state in the Capitol's National Statuary Hall on Friday.

The state of play: The Supreme Court also announced Monday that Ginsburg will lie in repose on the front steps of the building on Wednesday and Thursday, allowing the public to pay respects to the late justice outside.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Retail traders drove Snowflake and Unity Software's IPO surges

Illustration: Sarah Grillo/Axios

The story of last week's Snowflake and Unity Software IPOs had little to do with data warehousing or 3D game development, and lots to do with dizzying "pops" after pricing.

What happened: The Robinhood effect.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 31,103,347 — Total deaths: 961,435— Total recoveries: 21,281,441Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 6,813,984 — Total deaths: 199,525 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Health: CDC updates guidances to say coronavirus can be spread through the air Nursing homes are evicting unwanted patients.
  4. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right."
  5. Education: College students give failing grade on return to campus.
  6. Business: Unemployment concerns are growing.
  7. World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.