U.S. Stocks Advance on Trade Outlook; Pound Climbs: Markets WrapBy and
Dollar trades lower with Treasuries as risk appetite picks up
Sterling advances as British PM May wins confidence vote
U.S. stocks advanced as the outlook for trade took a positive turn and the British prime minister defeated a challenge to her leadership.
The S&P 500 rose 0.5 percent after an afternoon slump that pared its gain by more than half. It marked the fourth straight day that investors sold an early rally, a trend that’s a stark reversal from months where traders bought any meaningful dip. Oil’s retreat coincided with the move, amid reports that deep discord exists among OPEC members ahead of planned output cuts.