Economics
Stocks Rise, Dollar Slips as Weekend Risks Fade: Markets Wrap
- China growth offsets geopolitical stresses; havens edge higher
- Many markets still closed; Turkey investors weigh ‘yes’ vote
Citigroup's Elmer Sees Little Impact From Treasury Report
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U.S. stocks rose the most in six weeks, while the dollar weakened as geopolitical threats eased and a fresh set of American economic data damped the odds for a Federal Reserve rate hike in June.
All 11 groups in the S&P 500 Index advanced, while the Dow Jones Industrial Average added almost 200 points in light trading. Bloomberg’s dollar index pared losses after Treasury Secretary Steven Mnuchin told the Financial Times the greenback’s strength is “a good thing.” The yield on 10-year Treasuries edged higher from a November low. Gold erased gains. Turkey’s lira jumped after a vote expanded powers for the president. Copper climbed after China’s economic growth accelerated.