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Stocks Rise for Third Straight Week; Dollar Falls: Markets Wrap

  • Gold rises most in a week; Treasury yields are mostly flat
  • S&P 500’s weekly winning streak is the longest since December
Bloomberg business news
Darda: This Has Been a Startling Rally
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U.S. stocks rose as investors digested this week’s initial burst of corporate earnings, economic data and coronavirus news. The dollar weakened and crude oil declined.

The S&P 500 withstood a late session swoon to register its third consecutive weekly gain for the first time since December. Trading volume was about 25% below the average over the prior 30 days. Intel Corp. and Cisco Systems Inc. helped the Nasdaq 100 avoid its first back-to-back daily decline since mid-May. A University of Michigan survey showed U.S. consumer sentiment slumped in July, missing all forecasts, after the resurgent coronavirus nearly wiped out any emerging optimism around reopenings.