Stocks Climb, Led by Big Tech; Crude Oil Declines: Markets Wrap
- European shares edge higher; crude drops on supply concerns
- Tokyo Stock Exchange halted trading for the entire day
WATCH: U.S. Treasury Secretary Steven Mnuchin says he and House Speaker Nancy Pelosi are getting closer to a deal on the next virus relief package.
Source: BloombergU.S. stocks advanced, led by gains in the biggest technology companies, as investors weighed the chances Democratic lawmakers and the White House will reach a deal for a fiscal-stimulus package. Oil tumbled on concern the market may be oversupplied.
The Nasdaq 100 reached the highest in almost a month as Amazon.com, Microsoft and Tesla rose. The S&P 500 Index’s advance was limited by declines in energy producers. Trading was volatile, with stocks pushed around by the latest developments in efforts to forge a stimulus bill acceptable to Democrats and Republicans. Talks were set to continue Thursday as officials sought a breakthrough.