Wall Street: U.S. stocks climb to record highs

New Haven Register (New Haven, CT) - - FRONT PAGE - BLOOMBERG NEWS

U.S. stocks climbed to record highs as Wal-Mart Stores Inc. led a rally in con­sumer shares, and en­ergy pro­duc­ers climbed along with oil prices. The euro strength­ened after Cat­alo­nia’s pres­i­dent stepped back from declar­ing im­me­di­ate in­de­pen­dence from Spain.

The dol­lar weak­ened against most ma­jor cur­ren­cies as Pres­i­dent Don­ald Trump’s feud with Sen. Bob Corker clouded the out­look for his much-her­alded tax re­form. Traders are also wait­ing for min­utes from the Fed­eral Re­serve’s last meet­ing, which may pro­vide more details on the path of in­ter­est rates and bal­ance sheet ta­per­ing. The S&P 500 In­dex, Dow Jones In­dus­trial Av­er­age and Nas­daq Com­pos­ite In­dex all set record highs.

“The econ­omy is kind of just chug­ging along here,” said Brian Frank, port­fo­lio man­ager at Key Bis­cayne, Fla.-based Frank Cap­i­tal Part­ners LLC.

Gold gained as the green­back weak­ened, and West Texas oil rose above $50 a bar­rel be­fore U.S. gov­ern­ment data fore­cast to show crude in­ven­to­ries ex­tended de­clines for a third week.

The S&P 500 In­dex rose 0.2 per­cent to close at 2,550.66 after climb­ing to a record 2,555.23. The Dow Jones In­dus­trial Av­er­age gained 0.3 per­cent to hit a high of 22,850.51. The Nas­daq reached a record 6,608.301, and fin­ished the day up 0.1 per­cent.

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