S&P 500 Hits Record High as Dollar Selloff Deepens

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Wall Street traders sent stocks to all-time highs on speculation that solid corporate earnings will keep powering market gains. The dollar slid to an almost four-year low. Gold held above $5,000.

Not even a slump in consumer confidence prevented a fifth day of gains for the S&P 500, which approached 7,000. United Parcel Service Inc. gave a bullish outlook. The Nasdaq 100 rose 0.9% before results from megacaps. UnitedHealth Group Inc. led losses in insurers on a disappointing forecast and as the US proposed holding payments to private Medicare plans flat next year.

The dollar slid to its lowest since February 2022 as signs of US support to boost the yen reinforced the argument about potential coordinated intervention to guide the greenback lower against key trading partners.

On the eve of the Federal Reserve decision, Treasury yields edged up. The central bank is projected to halt its rate-cutting cycle as a steadier jobs market restores a degree of consensus among officials after months of growing division.
The expected decision to hold rates is likely to amplify the outrage of President Donald Trump, who wants them slashed.

Today's show features:

• Bloomberg News FX and Rates Reporter Carter Johnson on the US dollar weakening to its lowest level in four years
• Sheila Kahyaoglu, Managing Director in Equity Research at Jefferies, on Boeing’s quarterly results and the outlook for aviation and aerospace industries
• Bloomberg News Senior Reporter Jennifer Dlouhy on the White House shifting gears in its sweeping immigration crackdown in Minneapolis
• Karen Veraa-Perry, Head of US iShares Fixed Income Strategy at BlackRock, on investing in the fixed income market through ETFs, and US monetary policy expectations

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