U.S. Stocks Climb With Treasuries as Dollar Slides: Markets Wrap
- Volatility falls from day’s peaks as defensive stocks gain
- Haven assets climb, with Swiss franc, yen, gold all advancing
Pimco's Sundstrom: Catalonia Market Impact Is Local
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U.S. stocks eked out a gain to finish at a fresh all-time high as gains in defensive shares offset declines sparked by Apple Inc. Treasuries rose and the dollar extended losses after a report from Politico that President Donald Trump is leaning toward Jerome Powell as the next Fed chairman.
The S&P 500 wiped out a slide of 0.5 percent to close higher for a fifth straight day. The Nasdaq Composite Index fell the most in three weeks with Apple pacing declines after a report that the iPhone maker was dialing back orders. The Cboe Volatility Index held above 10, but trimmed a jump of more than 15 percent. Ten-year Treasury yields fell to 2.31 percent and gold approached $1,290 per ounce.