U.S. Stocks Climb, Bonds Fall on Stimulus Bets: Markets Wrap
- McConnell expected to meet with Pelosi as sides get closer
- S&P 500 jumps more than 1%; rally in small caps tops 2%
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U.S. stocks halted a four-day losing streak as Congress moved toward a federal spending package that would boost the economy. Treasuries retreated.
The S&P 500 rebounded from its longest slide since September. Senate Majority Leader Mitch McConnell said he will keep lawmakers in Washington until a deal gets done. The 10-year Treasury yield moved above 0.90% as the Federal Reserve began its two-day meeting. The dollar weakened for a second day. Oil advanced with gold.