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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
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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)

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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.