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Stocks Rise to Records Amid China, Deals Optimism: Markets Wrap

  • Dollar strengthens against most major peers; Yen weakens
  • China to raise penalties on IP violations; Bitcoin slumps
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Bond Market Is Focal Point of Trade War for RBC’s Schaffrik
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U.S. equities closed at records amid optimism over China trade relations and a fresh wave of merger and acquisition activity. The dollar strengthened.

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite Indexes reached all-time highs after China said over the weekend that it will tighten intellectual property rules, a move aimed at boosting the chances of a trade deal between the two largest economies. Tech shares led the gains. Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp., while LVMH purchased U.S. jeweler Tiffany & Co.