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Stocks End Record-Setting Week With Further Gains: Markets Wrap

  • Oil advances before Gulf storm; German bond yields climb
  • Emerging-market shares decline; Treasuries rise after PPI
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U.S. equities closed at a record high for a second straight day, and recorded a second consecutive weekly advance, as investors remained cautiously optimistic about prospects for easier monetary policy, despite a bigger-than-projected rise in a key inflation measure. The dollar retreated for a third day.

The S&P 500 Index rose Friday, led by technology and industrial shares, while drug stocks continued to weigh on the benchmark. An unexpected increase in American producer prices seemed to do little to alter investor sentiment toward the Federal Reserve’s next policy move. Treasury 10-year yields slipped.