US stocks rose and Treasury yields dropped on Friday, while speculation that president-elect Donald Trump will temper his most extreme trade policies drove the dollar to its biggest weekly loss in three months.
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The US economy expanded at a solid pace in the third quarter, largely powered by a broad-based advance in consumer spending and steady business investment.
Reaction to President-elect Donald Trump’s policy agenda — tax cuts, spending cuts, tariffs, deregulation and mass deportations — has dominated markets since the Nov. 5 election.
Stocks climbed and Treasury yields fell alongside the dollar as traders welcomed Donald Trump’s pick of Scott Bessent for US Treasury Secretary, betting the hedge fund manager will bring a Wall Street mindset to the role.
Donald Trump’s search for a Treasury secretary remains in flux, with the president-elect telling allies and advisers in recent days that he’s yet to be completely sold on the candidates he’s interviewed so far.
US equity futures climbed spurred on by a premarket reversal in Nvidia Corp. shares.
US stocks fell as traders digested the latest Ukraine-Russia tensions while the dollar climbed.
The financial world was roiled by a flare-up in geopolitical risks that sent stocks sliding — while spurring a flight to the safest corners of the market such as bonds and the gold.
US stock futures signaled a rocky start to the week with benchmark Treasury yields marching higher and the inflation threat back on the agenda.
Traders see an interest-rate cut next month as a coin toss as resilient economic data empowers Federal Reserve officials to take a potentially more-cautious approach to easing.