U.S. Stocks, Dollar Gain as Manufacturing Surges: Markets Wrap
- Trump’s tax battle, jobs report, Las Vegas shooting in focus
- Political uncertainty in Europe following vote in Catalonia
Tax-Fueled Multiple Expansion Drives Market, Says Winer
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U.S. equities rose to all-time highs and the dollar strengthened as factory data and the prospect for tax cuts boosted optimism in the economy.
The S&P 500 Index closed at another record to start the fourth quarter and the dollar headed for the strongest level since July after data showed U.S. manufacturing expanded at the fastest pace in 13 years. Oil fell toward $50 a barrel and Treasuries fluctuated. Investors are also watching developments in Las Vegas, where more than 50 people have died in the deadliest shooting in modern U.S. history.