U.S. Stocks Add to Rally as Crude Oil Advances; Dollar Climbs
The S&P 500 extended its rally to the longest since June 2014 as benchmark indexes added to all-time highs, with health-care shares and consumer staples taking a turn pacing gains. Oil powered above $51 a barrel on signs producers are following through with agreed production cuts.
The post-election rally in American equities plowed ahead even as the Federal Reserve looks certain to raise interest rates next week. Makers of household products led gains Friday after lagging behind for much of the post-election rally that’s added more than $1 trillion to the value of U.S. equities. Bank shares pushed gains in the past month to 18 percent.U.S. crude rose before OPEC meets in Vienna with non-member representatives. The dollar headed toward an 18-month high, supported by wagers on higher rates.