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Commodities Gain as Goldman Turns Bull; U.S. Stocks Retreat

Commodities rebounded from the biggest drop in two weeks after Goldman Sachs Group Inc. said it’s turning “more bullish” on raw materials as demand improves. Treasuries gained and U.S. stocks retreated.

Oil and gasoline rose 1.9 percent each. The Standard & Poor’s 500 Index slipped 0.1 percent to 1,316.28 at 4 p.m. in New York, its lowest close since April 19, while the MSCI All-Country World Index rose 0.3 percent after losing 1.8 percent yesterday. The euro rebounded from a two-month low versus the U.S. currency, helping send the Dollar Index down 0.3 percent. Ten-year Treasury yields lost two basis points to 3.11 percent, near their 2011 low.