NEW YORK (Reuters) - World equity markets climbed to a record on Friday as the U.S. dollar held near three-year lows and a U.S. government shutdown loomed, while U.S. Treasury yields continued their ascent to hit their highest levels since September 2014.
Democratic Senate leader Chuck Schumer met with President Donald Trump at the White House to search for ways to avert a U.S. government shutdown, but Schumer said afterward that disagreements remained as the clock ticked toward a midnight deadline to pass a funding bill.Legislation to stave off an imminent federal government shutdown encountered obstacles in the Senate on Thursday night, despite the passage of a month-long funding bill by the House of Representatives hours earlier.Without an infusion of new money, no matter how temporary, hundreds of thousands of "non-essential" federal workers may be put on furlough, while "essential" employees, dealing with public safety and national security, would continue working. "Whatever immediate concern the government shutdown brings to the market, I think it will swiftly overcome," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.Equity markets have historically shrugged off government shutdowns.Shares on Wall Street rose modestly, with each of the major Wall Street indexes marking their third straight weekly gain. The Dow Jones Industrial Average <.dji> rose 53.91 points, or 0.21 percent, to 26,071.72, the S&P 500 <.spx> gained 12.27 points, or 0.44 percent, to 2,810.3 and the Nasdaq Composite <.ixic> added 40.33 points, or 0.55 percent, to 7,336.38.For the week, the Dow rose 1.04 percent, the S&P 500 advanced 0.86 percent and the Nasdaq rose 1.04 percent. The trade-weighted dollar index was last up 0.1 percent, but was on pace for its fifth straight weekly drop, and is down nearly 2 percent so far in 2018. The euro