U.S. Stocks Little Changed as Dollar Advances, Commodities Slide
- S&P 500 fails to add to Monday rally, Home Depot buoys Dow
- Oil slumps with copper as dollar gains sink resource prices
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U.S. stocks failed to add to a rebound from the worst week since August, while the dollar climbed to a six-month high versus the euro as firming inflation data bolstered speculation the American economy can withstand higher rates. Commodities fell.
The Standard & Poor’s 500 Index slipped after rising 1.5 percent Monday, with gains faltering in afternoon trading. Energy producers led declines as crude tumbled toward $40 a barrel in New York, while Home Depot Inc. led retailers higher. Copper hit a six-year low as the Bloomberg Dollar Spot Index advanced. A weak euro boosted exporters and sent European shares to their biggest gain in six weeks.