U.S. Stocks Gain With Treasuries; Dollar Declines: Markets Wrap

Trump said he expected Powell to be a cheap-money Fed chair
Turkish lira slips as emerging-market shares, currencies rally

Meenal Patel of JPMorgan Private Bank discusses how further near-term strength for the dollar puts pressure on EM.Source: Bloomberg

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By Randall Jensen and Sarah Ponczek

August 19, 2018 at 9:49 PM UTC

Updated on

August 20, 2018 at 8:13 PM UTC

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U.S. stocks rose in thin volume as investors held onto hopes for an easing of the trade war, while Treasuries advanced ahead of a meeting of central bankers later this week.

The S&P 500 Index advanced for a third day to close within 15 points of a record. Equities pared gains in the final 15 minutes of trading after President Donald Trump said China and Europe manipulate their currencies, according to Reuters. Consumer-discretionary shares paced the day’s advance.