Stocks Rebound With Dollar and Gold Feels the Pain: Markets Wrap
- Yellen tenders resignation, Treasuries edge lower, oil drops
- DAX shrugs off Merkel impasse, Chilean stocks routed on vote
What's Ahead for Merkel as Coalition Talks Collapse
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The dollar gained and stocks rose, driving gold to its biggest drop in two months, as Congress took a holiday break from tax talks and markets absorbed political developments in the Americas and Europe.
At the start of a truncated Thanksgiving week, investors were unfazed by the news that Fed Chair Janet Yellen had tendered her resignation. The S&P 500 Index climbed after two down weeks, although it gave up some of the gains late in the session on reports that the U.S. is poised to sue to block AT&T Inc.’s proposed takeover of Time Warner Inc.