S&P 500 Rises to Record as Dollar Gains on Jobs Data; Bonds Fall
Traders sent U.S. stocks to a record after better-than-forecast jobs data underscored the strength of the world’s largest economy. The dollar rose and Treasuries fell as the report also bolstered the case for higher interest rates.
Both the S&P 500 and Nasdaq Composite Index closed above their all-time highs, while the dollar strengthened against most of its 16 major peers. Yields on two-year notes, the most sensitive to Federal Reserve policy, rose for the first time in four days. Gold, oil and copper retreated. European shares climbed amid thin trading volume.