Economics
U.S. Stocks Advance on Small-Cap Rally; Dollar Slides
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U.S. stocks rose, as small-cap and Internet shares extended advances on one of the slowest trading days of the year. The yen strengthened to a three-month high versus the dollar while oil touched a four-week high.
The Standard & Poor’s 500 Index added 0.4 percent at 4 p.m. in New York, following the gauge’s first back-to-back weekly losses since January. The Russell 2000 Index jumped 1 percent, for a second day of gains after a 3.3 percent drop. About 4.9 billion shares changed hands on U.S. exchanges today, about 25 percent below the three-month average. Japan’s currency advanced for a fourth day against the greenback. West Texas Intermediate oil rose as much as 1 percent on speculation crude inventories slipped.