Stocks Continue Streak of Gains; Treasuries Fall: Markets Wrap
- S&P 500 index notches longest winning streak since 2017
- Oil pares gains as U.S. says it may announcing easing measures
This article is for subscribers only.
U.S. stocks edged higher, with the S&P 500 notching its longest winning streak since 2017, after corporate earnings, strong hiring data and a Covid treatment breakthrough bolstered optimism in the world’s largest economy. The dollar and Treasuries fell.
The S&P 500 gained 0.1% for an eighth session, led energy producers and materials as investors piled into companies that benefit most from a strong economy. Meanwhile, the Nasdaq 100 fell, weighed down by Tesla Inc.’s 4.9% slump after Elon Musk asked his Twitter followers if he should sell 10% of his stake, to which they said yes.