Risk Rally Eases as U.S. Stocks Slip, Bonds Climb: Markets Wrap
- S&P 500’s seven-day rally in jeopardy, dollar weakens
- Gold advances with Treasuries, crude climbs past $53
Barclays' Hobbs Sees Market Warming to March Fed Hike
Most U.S. stocks fell after the longest rally in three years, Treasuries rose for the first time in six days and the dollar weakened as the torrid advance in riskier assets eased with investors awaiting details on the Trump administration’s pro-growth policy promises.
The S&P 500 Index slipped 0.1 percent, with three shares sliding for every two that gained, while the Dow Jones Industrial Average eked out an advance to close at a fresh record. Investors took stock after a weeklong rekindling of Trump trades amid optimism that the economy can withstand higher interest rates. Data Thursday did little to alter that view, with housing starts topping estimates. Still, bonds advanced, sending the 10-year yield lower by six basis points. Gold rose and European shares slid for the first time in eight days. The dollar weakened.