Wall Street’s bull market got fresh fuel at end of a month that’s lived up to its volatile reputation, with earnings optimism outweighing worries about a rally that’s heavily concentrated on tech giants.
Following a pause in the S&P 500’s roughly $17 trillion surge, the gauge climbed on solid outlooks from Amazon.com Inc. and Apple Inc. To be fair, not every megacap gained. And the iPhone maker’s advance sputtered as a sales drop in China tempered excitement for what promises to be a busy holiday season. Bonds steadied after a post-Federal Reserve rout. The dollar rose.
