Stocks Rise To Records, Dollar Gains With Bonds: Markets Wrap
- S&P 500 trims losses in afternoon traded, rises for week
- Dollar rebounds to rise in week as Treasuries advance
Is White House Chaos Finally Impacting the Markets?
Most U.S. stocks rose, taking the S&P 500 Index to a fresh record amid deal action ahead of the holiday weekend. Treasuries advanced and the dollar erased losses for the week as investors await details on Trump administration tax and spending plans.
The S&P 500 erased declines in late trading to cap its fourth straight weekly advance, the longest run since July. It’s gained in eight of the past nine days. Kraft Heinz Co. rallied after making a takeover bid for Unilever, lifting shares of consumer products makers. The 10-year Treasury note yield slid below 2.42 percent. French bonds retreated and the euro weakened as political risks weighed on sentiment. The pound headed for the lowest level in a month. U.S. markets are closed Monday for a holiday.