The S&P 500 Hits An All-Time High

The markets are higher following the three-day Memorial Day holiday weekend.

The S&P 500 hit an all-time intraday high of 1,908.77.

Earlier this morning, the Case-Shiller home price index posted a month-over-month increase in March that was larger than expected. U.S. durable goods orders also unexpectedly climbed.

The biggest stock news of the day is chicken producer Pilgrim’s Pride offering to buy Hillshire Brands in a deal worth $US6.4 billion.

Over the weekend, Pfizer also walked away from its bid to buy AstraZeneca.

More to come as we expect consumer confidence and U.S. manufacturing data.

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