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U.S. Stocks Rise to Record, Dollar Slips on Fed: Markets Wrap
- S&P 500 completes rebound from 1.8 percent selloff last week
- Dollar drops as officials signal inflation might slow
Fed's Harker: Three 2017 Rate Hikes 'Appropriate'
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U.S. stocks climbed to fresh records, while the dollar slipped with Treasury yields as minutes from the Federal Reserve’s last meeting showed officials unperturbed by recent signs of economic weakness. Crude slipped.
The S&P 500 Index completed its rebound from the biggest selloff the year a week ago, as Fed officials signaled the economy remains on track. The Nasdaq 100 Index also closed at a record. The dollar slumped toward a November low and Treasuries rose as a “few” said inflation remained muted. Metals retreated after Moody’s Investors Service reduced its rating on China. Crude fell slightly after five days of gains.