U.S. Stocks Gain With Commodities as Dollar Index Weakens
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U.S. stocks and commodities rallied and the Dollar Index fell for the third time in four days amid speculation the Federal Reserve will maintain its pace of monetary stimulus until economic growth picks up.
The Standard & Poor’s 500 Index increased 0.6 percent to 1,640.42 after the benchmark gauge posted its first consecutive weekly declines since November. The Dollar Index, a gauge of the currency against six major peers, slid 0.8 percent to 82.681. The 10-year Treasury yield was little changed at 2.13 percent after earlier climbing as high as 2.19 percent. Nickel and silver surged more than 2 percent and oil rallied 1.6 percent to pace commodity gains. Turkey’s stocks, bonds and currency slid amid anti-government protests.