From Fortune:

Gains for U.S. stocks sent Wall Street to a record milestone and winning week to finish out February. The S&P 500 rose 0.6% to close above the 5,000 level for the first time ever. The Dow Jones Industrial Average fell 54 points and the Nasdaq composite jumped 1.2%. Big Tech stocks led the market.

Advances in the S&P 500 were led by strong gains in Big Tech stocks, offset by declines in PepsiCo and Expedia. The S&P 500 rose 28.70 points to finish at 5,026.61. Despite the market’s record milestones, contrarians continue to warn of a market that may have gone too far and stocks that are priced too high.

In a quick-moving market that has analysts straddling the line between “buy” and “sell,” traders are turning to riskier investments after a strong bull run. In the bond market, movements remained calm, with Treasury yields only slightly higher than in previous sessions. International markets were mostly modestly lower.

Several markets in Asia were closed for the Lunar New Year holiday. The Nikkei 225 edged up by 0.1% in Tokyo after reaching a 34-year high earlier in the day. Overall, the message on Wall Street is that a rebounding economy has put off prospects, at least for now, for a cut in interest rates.



Read more: S&P 500 finishes above 5,000 for first time