Dollar and Stocks Fall, Bonds Advance With Gold After Jobs Data
- S&P 500 Index erases weekly decline, closes below 2,100 level
- Bloomberg Commodity Index on cusp of entering a bull market
Employers Added Fewest Jobs in Nearly 6 Years
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U.S. stocks fell with the dollar, while Treasuries and gold gained after American employers added the fewest jobs in almost six years in May, bolstering the case for the Federal Reserve to leave interests rates lower for longer.
The S&P 500 Index ended the week little changed, while the likelihood for a delayed rate increase sent financial shares lower. The dollar tumbled the most in six months versus the euro, while investors sought the safest government securities, sending the yield on two-year Treasuries to the steepest drop since September and the yield on German 10-year bunds to a record low. The weak greenback sparked a rally in emerging-market assets and commodities.