Stocks Shake Tech Woes to Close Up; Yields Climb: Markets Wrap
- Oil climbs to a three-week high amid output curbs by OPEC
- Treasury notes decline ahead of Federal Reserve policy meeting
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U.S. stocks edged higher, led by energy-related companies, as equity markets shrugged off weakness in technology and threats of global trade barriers. Government bond yields increased as investors braced for higher U.S. borrowing rates.
Crude advanced to a three-week high as the OPEC-led alliance of major oil producers accelerated the time line for curbing a worldwide supply glut, helping to lift the shares of companies such as Hess Corp. and Marathon Petroleum Corp. Facebook Inc.’s mounting Cambridge Analytica data crisis continued to weigh on tech and draw the ire of politicians on both sides of the Atlantic.