The technology sector has supported US stocks, the dollar is falling

U.S. stocks edged higher in thin trading, while Treasuries and the dollar fell as investors awaited hints on the direction of interest rates from the Federal Reserve and any clarity on trade. The S&P 500 struggled for footing as tech gains, led by Apple, were mostly offset by losses in the health-care sector after CVS Health Corp. said its results would be dragged down by rising costs and its recent takeover. The 10-year Treasury yield rose above 2.65 percent ahead of the release of the Fed’s meeting minutes Wednesday afternoon that will give a peak into the thinking behind the central bank’s big decision last month to pause rate hikes.

The dollar was mixed against major currencies as American and Chinese officials work in Washington this week to resolve a trade war that’s set to ramp up on March 1. The pound slipped as Prime Minister Theresa May headed back to Brussels in a last-ditch attempt to save her Brexit deal.

The S&P 500 Index rose 0.1 percent as of 11:18 a.m. New York time. The Stoxx Europe 600 Index gained 0.7 percent to the highest in 19 weeks. The MSCI All-Country World Index increased 0.5 percent to the highest in 19 weeks. The MSCI Emerging Market Index surged 1.5 percent.

The Bloomberg Commodity Index rose 0.4 percent. West Texas Intermediate crude gained 1.5 percent to $56.95 a barrel.

Tech Buoys U.S. Stocks; Treasuries, Dollar Decline, Bloomberg, Feb 20