U.S. Stocks Rebound While Dollar Drops From 12-Year High

U.S. stocks rebounded from a two-day selloff as banks rallied and a drop in retail sales bolstered the case for keeping interest rates low. The dollar fell from a 12-year high against the euro.

The Standard & Poor’s 500 Index jumped 1.3 percent at 4 p.m. in New York, after losing 1.9 percent in the previous two sessions. The dollar dropped 0.7 percent to $1.062 per euro. The yield on 10-year Treasuries was unchanged at 2.11 percent. U.S. crude prices settled at a six-week low on concern that production increases will add to a glut. Shares in Shanghai climbed to a six-week high and copper advanced for the first time in three days as China’s credit growth exceeded economists’ estimates.