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Dow Hits 10th Straight Daily High as Dollar Slips: Markets Wrap

  • Index sees longest streak of record closes since 1987
  • Greenback’s losses continue following release of FOMC minutes
Bloomberg business news

The Big Takeaways From the Latest FOMC Minutes

Updated on

The Dow Jones Industrial Average closed at an all-time high for the 10th consecutive day Thursday, as the dollar slid for a second straight session after minutes from the Federal Reserve’s last meeting showed officials were confident they could raise interest rates gradually without triggering inflation. U.S. stocks pared losses.

The S&P 500 Index was up slightly, rebounding from a loss of as much as 0.3 percent earlier in the day, while the Dow added 0.16 percent. U.S. bonds moved higher with European debt. French bonds advanced after a pact between independent presidential candidate Emmanuel Macron and centrist Francois Bayrou helped ease fears the country could elect a leader who favors leaving the European Union. Crude climbed back above $54 after an industry report showed U.S. stockpiles fell.