"Market Soars to New Highs as Tech Stocks Lead the Way: S&P 500 and Nasdaq Hit Record Levels"

US stocks rose as investors remained optimistic during Federal Reserve Chair Jerome Powell's testimony, with the S&P 500 touching record highs and tech stocks leading the gains. Gold prices surged as Powell reiterated the likelihood of rate cuts this year. New York Community Bancorp faced challenges as it lost 7% of its deposits, while Victoria's Secret shares plummeted after sales guidance fell short. The housing market saw an increase in inventory, but rising interest rates may impact buyer activity. Nvidia and Meta stocks reached new highs, and the market awaits the release of the non-farm payroll report for further insights.