U.S. Stocks Near Record as Oil Gains, Bonds Fall: Markets Wrap
- Dow Average approaches 20,000; dollar near highest in decade
- Treasury yields rise amid soft demand for two-year auction
Dutta: Markets Pricing in Stronger Growth
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U.S. stocks traded near a record high amid thin trading as oil posted its longest winning streak in four months. Treasuries fell amid soft demand in an auction of two-year notes.
The S&P 500 Index extended its monthly advance, with volume about 50 percent below the 30-day average. The Nasdaq Composite Index rose to its all-time high and the Dow Jones Industrial Average approached 20,000. Treasury yields rose the most in almost two weeks. Crude climbed for a seventh day as the market anticipates that output cuts from OPEC and non-OPEC producers will help speed the elimination of a supply glut.