Semiconductor stocks rose Monday as a White House official indicated restrictions on chip exports to China could be lessened through trade talks taking place in London.

In my column today I look at why the dollar has depreciated significantly this year regardless of how U.S. stocks and bonds have performed. The main reason? Hedging. More on that below, but first, a roundup of the main market moves.

Wall Street’s rally stalled after stocks climbed back within 2% of their all-time high. The S&P 500 slipped 0.3% Wednesday for its first drop in four days.