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US stocks rise as trade angst ebbs; dollar falls

US stocks rose and the dollar slipped as investors assess the latest developments in the trade war with China.

The S&P 500 Index churned less than half a percentage point below an all-time high. President Donald Trump said he doesn’t expect a breakthrough from low-level talks with China as both sides prepare to make billions of dollars in goods subject to tariffs.

The dollar fell for the fourth day after Trump complained about the Federal Reserve’s policies. The 10-year Treasury yield rose for the first time in three days.

The effects of the trade war have rippled through markets over the last few months and could continue this week as China and the US meet on Wednesday.

The Trump administration plans to slap tariffs on $16bn of goods on the same day and China is poised to retaliate. At the same time, investors await clues on monetary policy as central bankers gather in Jackson Hole on Friday.

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