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U.S. Stocks Rise With Dollar on Retail Sales; Oil Sinks

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U.S. stocks rebounded from the worst day in seven weeks as an improvement in retail sales helped overshadow a drop in West Texas Intermediate crude below $60. The dollar gained and Treasuries fell.

The Standard & Poor’s 500 Index rose 0.5 percent at 4 p.m. in New York, paring an earlier rally of 1.5 percent. Energy companies in the S&P 500 erased gains after surging 2.5 percent earlier in the day. WTI oil fell 1.7 percent to $59.90, a five-year low, after Saudi Arabia questioned the need to cut output. Greek equities sank 7.4 percent, while European equities erased earlier losses to finish little changed. The yield on 10-year Treasury notes rose one basis point to 2.18 percent. The Bloomberg Dollar Spot Index added 0.6 percent.