U.S. Stocks Rise With Treasuries Amid Aid Talks: Markets Wrap
- Intel tumbles after drop in data-center sales; AmEx falls
- Banks, automakers lead increases in Europe; dollar turns lower
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Most U.S. stocks rose after the Trump administration resuscitated hopes for a spending package. Treasuries remained higher.
The S&P 500 edged higher to pare a weekly decline. It erased losses after White House Chief of Staff Mark Meadows said he expects a deal in a day or so. Tech shares underperformed after Intel Inc. plunged more than 10%, dragging chipmakers lower. American Express Co. also faltered following earnings. Gilead Sciences Inc. rose after its antiviral therapy become the first drug formally cleared to treat Covid-19. The 10-year Treasury yield slipped to 0.83%. Oil slipped below $40 a barrel in New York.