U.S. Stocks Rise, Dollar Slips in Mixed Session: Markets Wrap

(Bloomberg) -- U.S. stocks ended a meandering session at fresh records, while the dollar and Treasuries were little changed as a host of events vied for investor attention.

The S&P 500 Index got a slight boost from data showing American services industries climbed at the fastest pace in 12 years, while private jobs numbers met expectations. The data did little to change views on the timing or pace for monetary tightening as investors await government payroll data Friday.

The dollar slipped from near its highest level since July and 10-year Treasury yields held at 2.33 percent as markets assessed the Trump administration's shortlist of candidates to helm the Federal Reserve. A flood of U.S. crude pushed oil to a two-week low.

In Asian markets, investors may face a more muted trading session with China on a week-long holiday, while data on Australia's trade balance and retail sales are due.

U.S. markets failed to gain traction in either direction, with investors weighing the economic data, Fed succession battle and renewed turmoil in Washington that saw Rex Tillerson publicly confirm his intention to remain on as Secretary of State. Comments form President Donald Trump on Puerto Rico briefly roiled the municipal bond market before his budget director walked them back.

Speeches from Russian President Vladimir Putin and U.K. Prime Minister Theresa May also vied for investor attention, while the continued political turmoil tied to Catalonia weighed on the region's assets.

Terminal subscribers can read more in our Markets Live blog.

Among the key events coming this week:

• Also this week are data on U.S. trade, durable goods and Friday's September nonfarm payrolls report.
• China is due to report monthly foreign-exchange reserves Thursday.
• Minutes of the last ECB meeting are the European economic highlight this week.

Here are the main moves in markets:

Stocks

• The S&P 500 Index rose 0.1 percent to 2,537.74 as of 4 p.m. New York time.
• The Dow Jones Industrial Average gained 20 points to 22,661 for a sixth record close in a row.
• The Russell 200 Index dropped 0.3 percent, for the biggest loss in a month.
• The Stoxx Europe 600 Index declined 0.1 percent, ending nine straight days of gains.
• Spain's IBEX Index fell 2.9 percent, the most in more than a year.
• The MSCI Emerging Market Index rose 0.4 percent, rising for the fourth day in a row.

Currencies

• The Bloomberg Dollar Spot Index fell 0.1 percent, the second day of declines.
• The Japanese yen gained 0.1 percent to 112.73 per dollar.
• The Australian dollar rose 0.3 percent to $0.7863.
• The euro climbed 0.2 percent to $1.1763.
• The British pound increased 0.1 percent to $1.3255.

Bonds

• The yield on 10-year Treasuries was steady at 2.32 percent, trading near the 200-day moving average.
• Germany's 10-year yield dipped one basis point to 0.45 percent.
• Britain's 10-year yield rose two basis points to 1.378 percent.

Commodities

• West Texas Intermediate crude dropped 1 percent to settle at $49.98 a barrel, falling for a third day.
• Gold increased 0.3 percent to $1,275.18 an ounce.
• Copper fell 0.2 percent to $2.95 a pound.

--With assistance from Simon Ballard Cormac Mullen and Sarah Ponczek

To contact the reporter on this story: Randall Jensen in New York at rjensen18@bloomberg.net.

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Samuel Potter at spotter33@bloomberg.net.