Economics
Stocks Advance on Earnings; Gold Retreats as Dollar Rebounds
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Stocks rose a second day as earnings at EBay Inc., Freeport-McMoRan Copper & Gold Inc. and McDonald’s Corp. beat analyst estimates, offsetting losses in bank shares. Gold slid as the dollar gained, while Treasuries dropped.
The Standard & Poor’s 500 Index advanced 0.2 percent to 1,180.26 at 4 p.m. in New York after falling as much as 0.6 percent. Gold futures lost 1.4 percent to $1,325.60 an ounce. The Dollar Index rose 0.4 percent after retreating the same amount. Oil slid 2.4 percent to $80.56 a barrel as refining in China grew the least in 18 months. The 10-year Treasury note’s yield climbed six basis points to 2.54 percent.