Emerging-market stocks rose, snapping a three-day drop, as ICICI Bank Ltd. jumped on speculation India’s opposition party will take over government. The rand sank amid the longest South African bond slide in 15 years.
Hedge funds grew less bullish on gold for a fourth straight week, the longest stretch since November 2012, as mounting concern that the Federal Reserve will curb monetary stimulus sent prices to a four-month low.
Emerging-market stocks gained, capping a second weekly advance, as a surge in German business confidence bolstered optimism about global growth. Brazil’s real jumped on speculation airport concessions will boost inflows.
Gold and silver sank with oil, while the dollar weakened against most peers and Treasuries rose as investors dissected speeches from Federal Reserve officials to gauge the outlook for stimulus. Most U.S. stocks fell after the Dow Jones Industrial Average exceeded 16,000 for the first time.
Even with the flawed roll out of health-care reform and uproar over spying, Barack Obama is enjoying one of the best stock markets for a re-elected president. Signs are building that it might not last.
Emerging-market stocks retreated for an eighth day, capping the longest slide since 2006, as a decline in India’s rupee to an eight-week low sank the nation’s shares and spurred concern capital inflows will slow.
U.S. stocks dropped, following a four-day rally in the Standard & Poor’s 500 Index, as lawmakers failed to reach an agreement to extend the government’s borrowing limit less than two days before the deadline.
Treasury bill rates surged to the highest level since the securities were sold in April and U.S. stocks snapped a four-day rally as lawmakers failed to reach an agreement to extend the government’s borrowing limit less than two days before the deadline. Oil fell and gold erased losses.