Inventories rose for a third day as optimism about a recovering US economy outweighed concerns about a worsening of coronavirus cases in places from Texas to China. Treasury yields rose and the dollar strengthened.
The S&P 500 rallied the strongest in more than a week, with Energy, Healthcare and Materials leading across all 11 industry sectors. The benchmark index rose earlier after data showed that U.S. retail sales rose the most. The chairman of the US Federal Reserve, Jerome Powell, said in his biannual policy report to Congress that the US economy may have bottomed out.Read more