Stocks rise to record; dollar falls

U.S. stocks rose, sending the S&P 500 Index past its January record, as an expanding economy and surging earnings erased a six-month drought in which equities tumbled into a correction. The dollar dropped.

Equities capped a second straight week of gains and the dollar slumped Friday. The latest stocks record marks another milestone in a nine-year bull run that’s the longest in history.

The 10-year Treasury yield edged lower to 2.82 percent. Crude settled above $68 a barrel in New York and gold jumped above $1,200 an ounce.

Investors hoping for a global-trade resolution were left disappointed after the U.S. talks with China ended with an increased likelihood that tit-for-tat tariffs will escalate, casting a shadow over the global-growth outlook.