Stocks Rise as Political Tension Cools, Bonds Slip: Markets Wrap
- Dow adds almost 200 points in biggest advance since April
- Bridgewater’s Dalio reducing risk on U.S. government concerns
Dennis DeBusschere, Evercore ISI's head of portfolio strategy, discusses the potential impact of Fed policy on markets with Bloomberg's Vonnie Quinn on 'Bloomberg Markets.' (Source: Bloomberg)
U.S. stocks rose the most in a week, while Treasuries declined and the dollar gained on growing speculation the Trump administration is gaining momentum in its efforts to reform the tax code. Industrial metals rallied.
The S&P 500 Index jumped 1 percent and the Dow Jones Industrial Average added almost 200 points amid reports the Trump team and lawmakers may be making progress toward pro-business reforms. Emerging-market and European equities also advanced. The risk-on tone lifted the dollar and weighed on havens from Treasuries to gold. Crude gained ahead of a U.S. government report that’s forecast to show stockpiles fell.