"S&P 500 Reaches New High as Nasdaq Surges Before Jobs Report"

The S&P 500 hit a new record high, led by tech stocks, as investors remained optimistic ahead of the release of the February jobs report. Federal Reserve Chair Jerome Powell expects "material and broad changes" to new banking regulation, while margin growth continues to support stocks despite high valuations. The housing market's spring selling season may see increased activity with rising inventory, but higher rates could deter buyers. Gold extended its rally as Powell reiterated likely rate cuts this year, and trending stocks included New York Community Bancorp, Victoria's Secret, and Meta.