Deals
U.S. Stocks Retreat as Stronger Dollar Drives Commodities Lower
- Gold extends first back-to-back weekly decline since May
- Most Asian index futures signal pullback amid yen gains
Bevan: Three Factors Supporting Record-High Markets
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U.S. stocks declined as crude oil slid to a three-month low, while a stronger dollar weighed on metals ahead of central bank meetings in the U.S. and Japan this week.
The S&P 500 Index slipped from a record as energy shares paced declines, with U.S. oil down 2.4 percent to below $44 a barrel. Nine of 10 main groups in the gauge retreated amid trading volumes that were 18 percent below average. The Treasury’s auction of two-year notes lured the weakest demand since 2008 on speculation the Federal Reserve will acknowledge signs of economic strength on Wednesday. Gold extended its first back-to-back weekly drop since May as the dollar gained against high-yielding currencies.