U.S. Stocks Little Changed Amid Global Rally as Commodities Drop
- Gauge of world equities extends climb on central bank optimism
- Crude fades ahead of Doha meeting as dollar gains sink metals
Do U.S. Stocks Have Room to Advance?
U.S. stocks meandered, with the Dow Jones Industrial Average ticking up to its highest level since July as global equities capped a fifth straight advance on gains in Europe and Asia. Commodities retreated as oil slipped and a stronger dollar weighed on metals.
Mixed corporate earnings saw the Standard & Poor’s 500 Index swing between gains and losses, with financial shares advancing a second day amid a spate of results, while consumer-staples producers and mining shares declined. The Stoxx Europe 600 Index capped its longest rally in six weeks. Crude slipped before talks on a possible output freeze. The dollar edged higher even as data showed U.S. inflation cooled. Defaults on high-yielding American bonds have topped $14 billion, the largest monthly volume in two years.