Home Economy Tech Drives Stock Gains; Dollar Climbs Fifth Day: Markets Wrap

Tech Drives Stock Gains; Dollar Climbs Fifth Day: Markets Wrap

0

(Bloomberg) — Stocks rose, led by gains in some of the world’s largest technology companies. The dollar climbed for a fifth day, its longest winning streak in two months.

The S&P 500 trimmed its weekly decline, while the Nasdaq 100 outperformed major benchmarks. Analysts cautioned that options expiring in the U.S. on Friday may fuel market volatility.

Financial markets were rattled this week by speculation that economic growth could lose momentum just as central banks pare back their support measures and Covid-19 cases surge. Yet U.S. stock funds had their largest inflows in nine weeks, according to Bank of America strategists.

“August is a historically volatile month for markets, and this year is no different,” said Rod von Lipsey, managing director at UBS Private Wealth Management. “While investors have understandably been worrying about the Federal Reserve’s potential tapering plans, against the backdrop of persistent Covid-19 cases, we…

Click here for full article…finance.yahoo.com