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Stocks Lifted by M&A as Dollar Rises to 2018 High: Markets Wrap

  • WTI reaches highest since November 2014 before paring gains
  • Ten-year Treasury yields little changed along with gold prices
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A Hawkish Fed tops geopolitical concerns as markets search for direction, UBS Wealth Management’s Mark Haefele says.Source: Bloomberg
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U.S. stocks edged higher following a spate of mergers and acquisitions while the dollar climbed to the strongest level this year. Crude rose past $70 a barrel before pairing gains.

Tech shares were the best performers in the U.S., lifting the S&P 500 Index. Oil, which reached its highest since November 2014 on speculation the U.S. would pull out of the Iran nuclear accord, erased the advance after President Donald Trump said he would announce a decision Tuesday and amid a report that European diplomats made progress on a deal to persuade Trump not to withdraw. Energy stocks went along for the ride.