(Bloomberg) — Stocks edged up as solid results from big banks offset news pointing to an escalation of the trade war between the world’s two largest economies.
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The S&P 500 rose for a third straight day. Bank of America Corp.’s stock traders posted a record quarter, while Citigroup Inc. inched closer to a key profitability target. Boeing Co. sank as Bloomberg News reported China has ordered its airlines not to take any further deliveries of planemaker as part of the tit-for-tat trade war with the US.
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Bonds and the dollar stabilized.
Some of the main moves in markets:
Stocks
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The S&P 500 rose 0.1% as of 9:34 a.m. New York time
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The Nasdaq 100 rose 0.3%
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The Dow Jones Industrial Average was little changed
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The Stoxx Europe 600 rose 1.1%
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The MSCI World Index rose 0.3%
Currencies
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The Bloomberg Dollar Spot Index was little changed
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The euro fell 0.3% to $1.1318
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The British pound rose 0.2% to $1.3221
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The Japanese yen rose 0.1% to 142.89 per dollar
Cryptocurrencies
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Bitcoin rose 1.1% to $85,770.67
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Ether rose 0.2% to $1,637.73
Bonds
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The yield on 10-year Treasuries was little changed at 4.38%
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Germany’s 10-year yield advanced two basis points to 2.54%
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Britain’s 10-year yield declined one basis point to 4.65%
Commodities
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West Texas Intermediate crude was little changed
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Spot gold rose 0.4% to $3,222.19 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Anand Krishnamoorthy and Michael Msika.
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