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Stocks Rise to Records on Earnings as Dollar Falls: Markets Wrap

  • Japanese yen partially erases gains after BOJ comment
  • Technology, biotech boost equities; Treasury yields climb
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Jean Raby, chief executive officer of Natixis Global Asset Management, discusses the outlook for markets.Daybreak: Europe" at the World Economic Forum’s annual meeting in Davos, Switzerland. (Source: Bloomberg)
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U.S. stocks rose the most since March as strong earnings outflanked concerns about trade spurred by Trump administration officials, whose comments helped push the dollar to its worst week in eight months.

The S&P 500 Index gained for a fourth week as corporate profits continued to beat estimates at a heady clip, with the latest earnings from pharmaceutical and technology companies boosting shares. The greenback fell to a three-year low, wiping out the surge from President Donald Trump’s support of a strong currency on Thursday, which followed Treasury Secretary Steven Mnuchin’s endorsement of a weak dollar a day earlier. Ten-year U.S. bond yields headed toward the highest level in more than three years. Oil traded at $66 a barrel.