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Stocks Stage Late Rally to Close Up; Dollar Rises: Markets Wrap

  • Dollar strengthens as Treasury 10-year yields push past 3%
  • European, Asian equities close higher; crude oil advances
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U.S. Retail Sales Fall Below Estimates as Autos, Clothing WeakenSource: Bloomberg
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U.S. stocks posted a late rally to close mostly higher for a fifth consecutive day, led by gains in the financial and energy sectors. The dollar strengthened after U.S. 10-year note yields briefly climbed past 3 percent.

The S&P 500 and Dow finished just in the green after slumping midday, when Bloomberg News reported that President Donald Trump instructed aides to proceed with tariffs on about $200 billion more in Chinese products. Financial markets were whipsawed this week by conflicting reports on the status of trade relations between the world’s two largest economies. The Nasdaq closer lower, though up for the week.