Stocks End Week on High Note Before Fed Meeting: Markets Wrap
- Traders weigh mixed reports on factories, consumers, growth
- Treasury yields advance; euro declines; Texas crude jumps
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U.S. stocks closed higher for the first time all week as traders digested positive factory output and consumer sentiment reports before next week’s Federal Reserve meeting. Ten-year Treasury yields rose and the dollar gained.
The S&P 500 broke out of longest slump of the year Friday, led by energy stocks as Texas crude spiked above $62 a barrel. The benchmark fluctuated late in the session thanks in part to “quadruple witching,” when futures and options contracts on indexes and individual stocks expire.