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Stocks Climb to Five-Week Highs; Bonds Gain: Markets Wrap

  • Oil rises as hurricane forces Gulf of Mexico production halts
  • Trump, Pelosi stimulus comments whipsaw equity markets
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WATCH: JPMorgan Chief U.S. Economist Michael Feroli and Cardify.ai President Paul Crowe discuss the U.S. economy.

Source: Bloomberg
Updated on

U.S. stocks rose to almost five-week highs as traders speculated that lawmakers will eventually provide more stimulus and corporate deal activity increased. Treasury bond yields dropped and the dollar weakened.

The S&P 500 finished up 0.8% after conflicting comments from President Donald Trump and House Speaker Nancy Pelosi whipsawed equity markets earlier in the day. Energy, utilities and financials were the biggest gainers in the benchmark index, with crude oil rallying as Hurricane Delta approached the already battered Louisiana coast.