Stocks Rally as Dollar Posts Best Week This Year: Markets Wrap
- U.S. equities follow European and Asian counterparts higher
- Sterling retreats after news that Brexit talks will progress
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U.S. stocks climbed to records as the latest jobs report bolstered optimism in the world’s largest economy, continuing equity rallies that took hold in Asia and Europe. The dollar posted its best week this year.
The S&P 500 Index and Dow Jones Industrial Average closed at all-time highs in light volume after data showed hiring increased by more than forecast in November and the unemployment rate held at a 17-year low. The dollar briefly edged lower as investors assessed tepid wage growth that missed estimates, then resumed its fifth consecutive gain. Ten-year Treasury yields inched higher.