Tech Advances as Trade Outlook Boosts Manufacturers: Market Wrap
- S&P 500 caps fourth monthly gain, its biggest since January
- Crude oil falls on supply outlook as the dollar strengthens
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U.S. stocks advanced as trade optimism lifted industrial shares and tech companies staged a recovery. Oil sank and the dollar gained.
The S&P 500 Index capped a fourth monthly gain as Boeing Co., Caterpillar Inc. and 3M Co. all added more than 1 percent after Bloomberg’s report that the U.S. and China are trying to restart talks aimed at averting a full-blown trade war. The FANG quartet of megacap tech shares rose as investors awaited Apple Inc.’s earnings following a rout for the sector. Japanese bond yields fell the most since November after the Bank of Japan signaled interest rates will stay low for an “extended period of time.”