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Stocks Gain on Stimulus Hopes in Choppy Trading: Markets Wrap

  • Dollar index slumps as 10-year Treasury yields climb
  • Equities slide in Asia, while emerging markets advance
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U.S. in 'New Bull Market,' Says Morgan Stanley's WilsonSource: Bloomberg
Updated on

U.S. stocks finished higher after a volatile session that saw traders whipsawed by reports on the outlook for a new round of government stimulus.

The S&P 500 Index climbed 0.8%, paring gains of as much as 1.7% after Treasury Secretary Steven Mnuchin said there had been no agreement on pandemic relief. Speculation a deal was in the works kept the benchmark at a two-week high. An exchange-traded fund tracking the S&P 500 fell 0.2% in after-hours trading as Democrats postponed a vote on their proposal with negotiations continuing.