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Stocks Climb, Gold Jumps to Record on Fed Wagers: Markets Wrap

  • Central bank seen reinforcing its dovish message this week
  • Virus infections slowed in California, Arizona and Florida
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Simon French, chief economist at Panmure Gordon, discusses his outlook for gold.Source: Bloomberg
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U.S. stocks climbed, led by technology shares, on speculation the Federal Reserve will reinforce its dovish message. Gold jumped to a record, while the dollar fell.

The S&P 500 erased last week’s drop as the rebound in tech overshadowed a slide in banks. A slew of earnings reports from Nasdaq 100 companies over the next few days will offer clues on whether the gauge’s record-breaking advance through mid-July has been justified. Moderna Inc. soared after getting a second round of U.S. funding for an experimental vaccine for Covid-19 and kicking off its late-stage trial.