Stocks are up again on strong Berkshire results

U.S. stocks rose for a third day as strong results from Berkshire Hathaway Inc. lifted financial shares and higher oil prices boosted energy producers. The dollar and Treasuries advanced.

The S&P 500 Index closed at its highest since January. Dividend-paying financial firms led gains. The Bloomberg Dollar Spot Index climbed for the fourth time in five sessions, while the pound weakened to an 11-month low on Brexit angst. U.S. crude headed for $69 a barrel. The yield on 10-year Treasuries fell to 2.94 percent. The Cboe Volatility Index fell to 11.24, the lowest since Jan. 26.

“There are certainly reasons for concern. The potential of a trade war leads the list,” Matt Maley, equity strategist at Miller Tabak + Co., wrote in a note to clients this morning. “Then again, there have been reasons for concern all year. And yet, that hasn’t stopped the stock market from bouncing back strongly from its February lows.”

Berkshire’s results and comments from JPMorgan Chase & Co. bolstered financial firms even as Treasury yields remained below 3 percent. Investors largely shrugged off early concern sparked by China’s signal it won’t flinch in a trade war, adding to heightened rhetoric from U.S. President Donald Trump. The Asian country on Friday stepped in to try to cushion the yuan after a record string of weekly losses saw the currency closing in on the milestone of 7 per dollar.

Elsewhere, Turkey’s lira fell for a sixth day, while a basket of emerging market currencies held steady.

Earnings season this week will include results from Japan Post Bank, Disney, 21st Century Fox, Deutsche Telekom, China Mobile, Glencore and Adidas. Tuesday brings the latest Reserve Bank of Australia meeting that is forecast to produce no change in either the record-low cash rate or the long-term guidance.