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.
Industrial metals led a gauge of commodities to a four-month low, while the dollar weakened and Treasuries rose, as investors assessed economic data for clues to future policy moves from central banks. U.S. shares rose a second day and European stocks closed at a five-year high.
Emerging-market stocks retreated from a five-month high amid concern China’s economic growth will falter after the nation’s money-market rates climbed. OAO Gazprom and Vale SA drove a slump in commodity producers.
U.S. stocks advanced, rebounding from earlier losses in the Standard & Poor’s 500 Index, as a rally in retail and transportation companies overshadowed concern about discussions on raising the debt ceiling.
U.S. stocks trimmed losses following a report that Europe’s bailout fund will pay the next installment of aid to Greece, easing concern that the nation won’t qualify for rescue funds after electing political leaders opposed to austerity measures.
Google Inc.’s decision to halt its stock for 2 1/2 hours after the premature release of third- quarter results was praised by fund managers who own the company and assailed by a critic of market structure.
The exchange-traded fund tracking developing-nation shares fell for the first time in three days as manufacturing from China to the U.S. and Australia slowed, sparking concern that the global economic recovery is faltering.
Boeing Co., rebounding from the 787 Dreamliner’s three-month grounding, is moving closer to a further production increase that would reward investors by freeing up billions of dollars for dividends and buybacks.