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Stocks Climb But Fears of Ongoing Shutdown Linger: Markets Wrap

  • Equities get a lift from optimism on rates, U.S.-China trade
  • Crude leaps to $52 a barrel, enters bull market; dollar falls
Bloomberg business news
Michael Shaoul, Marketfield CEO, says the Fed is caught between watching data and watching markets.(Source: Bloomberg)
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Stocks rose as investors cheered the dovish approach discussed in minutes from the latest Federal Reserve meeting, but the gains were muted by concerns that the partial shutdown of the U.S. government will continue for some time. The dollar fell and Treasuries rose, while oil surged above $52 a barrel and entered a bull market.

The S&P 500 Index was up for a fourth consecutive day led by energy producers, reaching the highest level in almost a month. The Nasdaq benchmarks were the strongest performers on strength in semiconductors and technology hardware manufacturers.