Stocks Rise on Earnings as Tech Rallies; Oil Gains: Markets Wrap

Dollar declines; copper tumbles as inventories surge
West Texas crude to $64 a barrel; price of gold advances

Trade issues are the "biggest risk" to the global economy, BlackRock’s Philipp Hildebrand says in Davos.Daybreak: Europe at the World Economic Forum’s annual meeting in Davos, Switzerland. (Source: Bloomberg)

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By Randall Jensen

January 22, 2018 at 10:17 PM UTC

Updated on

January 23, 2018 at 9:02 PM UTC

This article is for subscribers only.

U.S. stocks rose a third day, while emerging-market equities hit the highest in a decade as synchronized global growth boosts corporate profits. Oil jumped as the dollar fell.

The S&P 500 Index closed at a fresh record as the strong start to earnings continued, with 82 percent firms that have reported topping estimates. Tech shares lifted the Nasdaq 100 Index to a fifth straight gain and the MSCI Emerging Markets Index powered to an eighth day of advances. The 10-year Treasury yield fell for a second session, while the dollar dropped toward lows of the year.