U.S. Stocks Rise to Records as Dollar Strengthens: Markets Wrap
- Corporate earnings may dictate next direction for equities
- Pound falters as premier May begins overhaul of ministers
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U.S. stocks rose for a fifth straight day, with technology shares bolstering major indexes, as investors continue to price in the impact of tax cuts before corporate earnings start later in the week. The dollar strengthened after three straight weekly declines.
The S&P 500 Index shrugged off early sluggishness to push to a fresh record, giving it gains in every session so far this year. The Nasdaq indexes rose as semiconductors advanced. European equities added to the biggest weekly advance since April, and markets in Tokyo were closed for a holiday. Bloomberg’s dollar index climbed the most in three weeks. Oil held above $61 a barrel, and a measure of financial-market stress sank to its lowest level since 2014.