Economics
U.S. Stocks, Dollar Rise While Gold Falls on Economy Data
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U.S. stocks rose, sending the Standard & Poor’s 500 Index to within seven points of a record, and the dollar gained as data showed a strengthening economy with inflation running below Federal Reserve targets. Gold retreated with oil.
The S&P 500 rose 0.5 percent at 4 p.m. in New York, capping a 3.8 percent rally since Aug. 7. Apple Inc. gained 1.4 percent to a record $100.53. The MSCI Emerging Markets Index climbed 0.7 percent to a three-year high. The yield on 10-year Treasury notes was little changed at 2.40 percent. The dollar jumped to the highest in nine months versus the euro. Gold dropped 0.2 percent to settle at $1,296.70 and U.S. oil slid to a seven-month low.