U.S. stocks rebounded from yesterday’s drop and the Dollar Index rose to the highest level since July 2010 as better-than-estimated economic data fueled speculation the Federal Reserve will consider scaling back stimulus. Gold extended its longest slump in four years.
U.S. stocks rose, paring the worst weekly drop for the Standard & Poor’s 500 Index since November, amid better-than-estimated earnings and Group of 20 nation talks aimed at bolstering the global economy. The yen weakened, gold climbed above $1,400 an ounce and oil advanced.
Emerging-market stocks dropped to the lowest level in almost five months as Apple Inc.'s Asian suppliers retreated on speculation sales are slowing and concern grew that the global economy is faltering.
South Korean shares in the U.S. fell to the lowest level since September, the won tumbled and credit risk surged as the government said North Korea may be ready to conduct a nuclear test or missile launch as early as this week.
Warren Buffett’s proposal to take over NYSE Euronext, while rejected in favor of a higher offer last year, is boosting optimism that the world-famous stock picker sees a rebound in trading from a four-year low.
Stocks fell, following the best weekly rally of 2012 for global equities, as U.S. leaders prepared to negotiate a budget deal and European finance chiefs meet on Greek aid. Treasuries rose for the first time in a week.