U.S. Stocks Resume Record-Setting Year-End Rally: Markets Wrap

By: Jeremy Herron and Claire Ballentine

U.S. stocks bounced back to claim fresh records as investors chased gains that have added more than $5 trillion to valuations this year. Oil topped $61 a barrel and Treasuries edged higher.

After dipping Wednesday, the S&P 500 index on Thursday pushed past 3,200 for the first time, led by tech, health-care and communications shares. The benchmark is up more than 7% in the fourth quarter and 27% so far this year. Data showing that jobless claims fell less than forecast did little to alter views on the health of the economy. Markets ignored the impeachment of President Donald Trump. The dollar steadied against its major peers. China said it was in close contact with the U.S. to sign the initial trade deal announced last Friday.

Treasuries bucked a sell-off in sovereign bonds from London to Tokyo as monetary decisions rolled out. Sweden’s central bank raised its benchmark to end half a decade of sub-zero interest rates, a move that will provide a test case for global counterparts with negative borrowing costs.

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