U.S. Stocks at Records, Dollar Gains on Economy: Markets Wrap
- Hiring falls short of estimates, wage growth misses forecast
- Emerging-market currencies fall as Venezuela seeks debt talks
U.S. stocks capped the longest string of weekly gains since 2013 as Apple Inc. results and strong services sector data added to optimism in the economy. The dollar rose, while Treasuries edged higher as the latest jobs report did little to alter views on the timing for higher interest rates.
The S&P 500 Index finished higher for an eighth week as Apple jumped 2.6 percent to a record. The Cboe Volatility Index headed for the lowest close on record. The dollar added to gains after the services sector looked robust. The 10-year Treasury yield slipped to 2.33 percent. Crude topped $55 a barrel on reports Mexico’s state-owned oil company made a major discovery. An index of emerging-market currencies declined the most in a month amid Venezuela’s plan to restructure its debt.