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S&P 500 Rises to Record on Weaker Dollar, Easing of Bond Selloff

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Why Does the Dollar Keep Falling?

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U.S. stocks rose for the first time this week, with the Standard & Poor’s 500 Index topping its closing record as a weaker dollar boosted multinational companies and the bond-market selloff showed signs of easing.

The Standard & Poor’s 500 Index increased 1.1 percent by 4 p.m. in New York. The gauge has climbed 2 percent from a one-month low reached May 6. Apple Inc. and Microsoft Corp. jumped more than 2 percent. The Bloomberg Dollar Spot Index slipped 0.3 percent, headed for a fifth weekly decline. Yields on 10-year Treasuries fell six basis points to 2.23 percent while German bund rates lost two basis points. Gold rose to the highest level since February. Wheat soared the most since 2012.