U.S. Stocks Rise, Treasuries Slide With Crude Oil: Markets Wrap
- Oil falls more than 4 percent after surprise rise in supplies
- S&P 500 edges higher after erasing earlier gains on oil data
BlackRock's Harrison Says Inflation Hurts Monetary Hawks
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U.S. stocks halted a two-day slide as banks rebounded amid a drop in Treasuries. Crude tumbled on rising supplies, while the dollar was little changed as investors awaited a key day of events that could set the tone on financial markets.
The S&P 500 Index rose, buoyed by lenders after 10-year note yields added three basis points. Government data showing crude stockpiles in the U.S. rose last week sent oil plunging more than 4 percent toward $46. The report dented market calm before a series of events Thursday, from the ECB’s policy decision to testimony by the former FBI director and the U.K.’s election.