Late Push Sends Nasdaq to Record High; Bonds Gain: Markets Wrap
- Oil erases loss after falling below 50-day moving average
- Treasuries climb as Italian bonds drop first time in 5 days
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The global rally in risk assets that sent U.S. stocks to a 12-week high sputtered on Tuesday, with the S&P 500 swinging between gains and losses before closing higher for a third consecutive day.
Advances in megacap tech shares helped support the Nasdaq indexes, pushing them to fresh records for a second straight day. Italian bonds tumbled after the nation’s premier pledged a raft of populist measures. Crude oil reversed early losses to close higher for the first time in four days, while the dollar also gained.