U.S. Stocks Hit New Highs, Spanish Equities Drop: Markets Wrap
- Euro gains as Catalan president seeks to suspend referendum
- Turkey’s lira falls in late trading amid renewed U.S. tension
Morgan Stanley's Shalett: Too Early to Go to Cash
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U.S. stocks climbed to record highs as Wal-Mart Stores Inc. led a rally in consumer shares, and energy producers climbed along with oil prices. The euro strengthened after Catalonia’s president stepped back from declaring immediate independence from Spain.
Turkey’s lira lost a gain of as much as 1.1 percent amid reports the White House backs its ambassador’s decision to suspend visas and news that the country convicted in absentia a U.S. reporter on charges of “terrorist propaganda.” The currency tumbled Monday as the diplomatic row with America flared up.