S&P 500 Clocks Best Month of the Year; Yields Drop: Markets Wrap

US stocks ended a shortened trading session higher while Treasury yields declined across the curve. Speculation that President-elect Donald Trump will temper his most extreme trade policies drove the dollar down.

The S&P 500 climbed more than 1% for a second straight week. On Friday, it rose 0.6%, notching fresh record highs. The 10-year Treasury yield fell to 4.17%. The Bloomberg Dollar Spot Index extended a weekly decline to more than 1%, snapping eight weeks of gains.

Trump’s pick for his Treasury secretaryhas fueled optimism that tariffs will be measured, boosting US stocks and bonds, and sapping dollar strength. ...