S&P 500, Dow, Nasdaq Hit Records Together First Time Since 1999
- European shares erase post-Brexit decline; Treasuries drop
- Yen little changed Friday; Japan markets closed Thursday
What Can Stop the Stock Market Rally?
All three U.S. stock benchmarks rose together to record highs for the first time in 16 years amid surprising earnings. European shares erased the slump that followed Britain’s secession vote. Oil climbed, while Treasuries slumped.
The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite Index advanced amid better-than-forecast profits at retailers Macy’s Inc. and Kohl’s Corp. Europe’s stocks closed at the highest since May. Oil climbed on speculation producers could agree on moves to support prices during talks in September. Treasuries fell as an auction of 30-year bonds saw a retreat from the level of investor interest at previous sales this week. Mexico’s peso led gains among major currencies as the central bank kept its interest rates unchanged.