U.S. Stocks, Copper Advance as Dollar Declines on Housing Data
This article is for subscribers only.
U.S. stocks rose, erasing the Dow Jones Industrial Average’s 2010 loss, and copper advanced to a 10-week high as the dollar fell after new home sales beat estimates and FedEx Corp. boosted its forecast.
The Dow climbed 100.81 points, or 1 percent, to 10,525.43 at 4 p.m. New York time. The Standard & Poor’s 500 Index gained 1.1 percent to the highest level since June 18, driven by homebuilders and transportation companies. Copper futures increased 1.2 percent, while the dollar weakened against all 16 of its most-traded counterparts including the euro and yen.