U.S. Stocks Rise as Tech Rebounds, Dollar Slides: Markets Wrap
- Pain continues for China’s yuan; WTI oil rises, gold falls
- White House denies taking softer stance on China trade
U.S. stocks rose the most in three weeks as technology rebounded from losses sparked by America’s unclear strategy toward Chinese trade. Emerging-market assets had another miserable day, while Treasuries slumped with the dollar.
The S&P 500 Index shook off early malaise to end higher, as technology stocks lifted the benchmark toward a monthly gain. The 2,700 mark provided a key level of support. The Nasdaq indexes led advances after bearing the brunt of selling in prior sessions. Walgreens Boots Alliance Inc., the Dow Jones Industrial Average’s newest member, plunged after Amazon.com Inc. said it acquired an online pharmacy. A gauge of developing-market stocks sank to the lowest level in 10 months. West Texas Intermediate crude pushed above $73 a barrel.