US: Stocks, US dollar advance

[NEW YORK] US stocks gained with the US dollar, while Treasuries fell as investors assessed the prospect for tax cuts. The euro weakened in the wake of political turmoil in Spain.

The S&P 500 Index hovered near a record high to start the fourth quarter, with investors also watching developments in Las Vegas, where at least 50 people have died in the deadliest shooting in modern US history.

The US dollar headed for the strongest level since mid-August and 10-year Treasury yields slipped.

Elsewhere gold dropped and West Texas oil fell below US$51 a barrel after Baker Hughes data showed the US rig count climbing to 750 last week.

Following a two-day pause the greenback is adding to gains from last week, when it benefited from speculation President Donald Trump could opt for a Fed boss who might pursue more aggressive policy tightening, not to mention details of the administration's tax plans.

BLOOMBERG