Stocks Bounce After Paring Gains, Dollar Advances: Markets Wrap
- Treasuries decline; Brent jumps due to crack in pipeline
- Inflation data gives the Fed ‘confidence to raise rates’
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U.S. stocks fluctuated, while the dollar rose and Treasuries slipped as investors kept an eye on upcoming central bank meetings and the special Senate election in Alabama.
The S&P 500 Index climbed to another record, overcoming a dip sparked by Republican Senator Rand Paul tweeting his opposition to adding to the federal debt. The tech-heavy Nasdaq 100 Index and Nasdaq Composite Index both turned lower, as did the small-cap Russell 2000 Index. Telephone stocks, banks and diversified financial companies were up substantially, while utilities and semiconductors led decliners.