U.S. Stocks Mixed as Oil Slumps, Dollar Advances: Markets Wrap
- Nasdaq at fresh record on tech gains, S&P 500 slips from high
- Volatility slumps to multi-year lows after French elections
Saudi Arabia and Russia May Extend Oil Cuts
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Most U.S. stocks fell as renewed selling in commodities from gold to crude sent materials producers lower. The dollar gained as bets increased for a hike in U.S. borrowing costs next month. Equity volatility remained near a 24-year low.
The S&P 500 Index slipped from a record, while technology shares boosted the Nasdaq Composite Index to a fresh all-time high. Bloomberg’s Dollar Spot Index showed the greenback at the highest in a month in the wake of a hawkish comments from Federal Reserve officials. Treasuries were steady. Oil slipped toward $46 a barrel on glut concerns. Emerging-market assets proved resilient, with equities gaining a second day.