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US stocks edge higher on industrials, energy firms; dollar flattens

The dollar fell after touching its highest level since June 29

Hilary Russ | Reuters  |  New York 

The benchmark S&P 500 hit a more than five-month high on Friday on gains in industrials and energy companies, while the safe-haven U.S. dollar flattened after touching a two-week high. Gold slipped to seven-month lows and Treasury prices rose after the Federal Reserve reinforced views of strong U.S. economic growth in a report to Congress, reinforcing expectations of higher interest rates. The Fed reiterated that it "expects that further gradual increases" in interest rates would be appropriate given "solid" growth. An absence of rhetoric overnight about a ...

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First Published: Sat, July 14 2018. 20:05 IST
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