Hedge funds increased bets on a gold rally by the most in three weeks as central banks signaled no end to economic stimulus, driving prices higher just as analysts and traders turned the most bearish in three years.
Emerging stocks rose, posting the biggest weekly advance since January, as better-than-forecast U.S. jobs data bolstered optimism about global economic growth. Commodity companies paced rallies from Russia to Brazil.
Developing-nation stocks slid for the first time in four days, led by India, as commodities declined on concern the global outlook is deteriorating and Infosys Ltd. forecast lower-than-estimated sales.
Stocks slid, erasing early gains, amid concern that Cyprus’s bank-restructuring plan will pave the way for losses on deposits in other European nations. The euro weakened against all 16 major peers while Italian and Spanish bonds erased gains.
U.S. stocks climbed, sending the Standard & Poor’s 500 Index within two points of its record high, as government data showed jobless claims unexpectedly dropped last week to the lowest level in almost two months.
Emerging-market stocks fell to a three-month low as Russia spurned a bid for a loan to Cyprus and Thailand’s bourse said it may increase margin requirements, sparking the biggest drop in the SET Index since October 2011.
U.S. stocks fell this week, dragging the Dow Jones Industrial Average below 10,000, as lower-than- estimated jobs growth and a worsening government debt crisis in Europe fueled concern the global economic recovery will slow.