U.S. Stocks Advance as Weaker Dollar Sparks Gains in Commodities
- Data show resilient labor market a week before Fed decision
- Brazil credit downgrade sinks real; Chinese stocks retreat
Rally Derailed as Jitters over Fed and China Persist
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U.S. stocks rose amid light volumes a week before the Federal Reserve’s policy decision. Apple Inc. led a rally in technology shares, while a retreat in the dollar sparked a surge in commodities from oil to metals.
The Standard & Poor’s 500 Index rebounded from a selloff yesterday in a market increasingly characterized by sharp shifts in sentiment amid the looming threat of higher interest rates. The dollar slipped to a one-week low on speculation the Fed won’t act next week amid continued turbulence in global financial markets. Oil surged past $45 a barrel in New York.