Stock Rally Reaches New Highs on Stimulus Optimism: Markets Wrap
- Dollar extends decline after U.S. says hiring rebound slows
- Treasury 10-year note yield climbs to highest since March
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U.S. stocks climbed to all-time highs and Treasury yields jumped after a report showing U.S. employment gains slowed in November bolstered expectations for more federal stimulus.
All major indexes for U.S. equities -- the S&P 500, the Dow Jones Industrial Average, the Russell 2000 and the Nasdaq Composite Index -- closed at records. Such synchronized highs were last seen in January 2018. The dollar posted its biggest weekly decline in five, while the yield on the 10-year Treasury note reached the highest in nine months.