U.S. Stocks at Record Highs; Dollar Extends Gains: Markets Wrap
- European stocks rise as region’s new regulations take effect
- Oil approaches $62 a barrel for the first time in three years
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U.S. stocks climbed to record highs, gold fell and the dollar extended gains as the minutes from the Federal Reserve’s December policy meeting showed officials continued to back gradual interest-rate increases.
The Standard & Poor’s 500 Index rose past 2,700 for the first time, while the Nasdaq Composite Index and Dow Jones Industrial Average reached all-time highs. An earlier report showed U.S. manufacturing expanded in December at the fastest pace in three months. European stocks rose following a positive session in Asia and bonds gained as the region’s new investment regulations finally took effect.