Stocks Rise With Dollar, Treasuries Fall on Economy Optimism
- S&P 500 rises to record, Dow average on a seven-day rally
- Turkish lira rebounds from Friday selloff as Erdogan in power
How Has Turkey's Coup Attempt Impacted Markets?
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U.S. stocks rose, with technology shares pacing gains amid deal news, while Treasuries fell as optimism about the economy’s strength overshadowed renewed geopolitical angst after a failed coup attempt in Turkey. Crude retreated.
The S&P 500 Index notched its fifth record in six sessions, and the Nasdaq 100 Index closed at the highest level of the year, with chipmakers rising after SoftBank Group Corp. agreed to buy ARM Holdings Plc for $32 billion. Treasuries extended the worst week in a year and the yen headed for the lowest close this month. Turkey’s lira clawed back some of its losses from Friday, sparked by an attempted military putsch.