Deals
U.S. Stocks Rise for Fourth Day, Dollar Weakens: Markets Wrap
- 10-year Treasury notes slump, gold futures erase gains
- Tesla shares halted after Musk tweet roils short sellers
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U.S. stocks edged higher pushed their winning streak to four days amid a relative cooling of protectionist rhetoric between the world’s two largest economies and optimism growth can continue. Tesla Inc. surged after Elon Musk proposed taking the company private.
The S&P 500 Index closed at the highest level since its Jan. 26 record. Gains faded in the final half hour of trading as investors moved out of rate-sensitive shares amid a rise in Treasury yields. Industrial and energy stocks paced gains. The Cboe Volatility Index slid below 11 for the first time since May. Musk’s tweet punished short sellers. Commodities advanced. Chinese stocks drove a broad rally in Asia.