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S&P 500 Pares Monthly Climb as Oil Slips, Dollar Maintains Gains
- Crude caps worst month since July ahead of OPEC meeting
- Yuan rebounds after IMF designates it a reserve currency
What to Expect From the ECB Meeting
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U.S. stocks retreated, whittling down their November advance as investors prepared for a raft of economic data due this week along with policy decisions from central banks.
Consumer stocks led the Standard & Poor’s 500 Index lower, trimming its gain in November to 0.1 percent. The euro capped its worst month versus the dollar since March on prospects Europe will bolster economic stimulus just as the U.S. considers tightening policy. The yield gap between German and American bonds widened to the most in nine years, while emerging-market stocks posted their biggest monthly slump since August. The yuan rallied after the IMF said it will be added to its basket of reserve currencies.