The dollar gained with U.S. stocks as a report showed the American economy grew more than forecast last quarter. Oil slid from a two-year high while European shares rose for the first time in four days.
U.S. stocks rose, with the Standard & Poor’s 500 Index trimming a weekly decline, as optimism grew that the lawmakers would reach a deal to end the budget impasse and avoid a default on the federal debt.
European stocks climbed, with the benchmark index completing its biggest weekly gain in almost a year, as German business confidence rose and investors watched Black Friday sales to gauge prospects for U.S. holiday shopping.
European stocks rallied for a ninth day, their longest winning streak since June 2010, as companies from Novartis AG to Reckitt Benckiser Group Plc raised forecasts and the U.S. unemployment rate fell to an almost five-year low.