Stocks in the world’s developed nations posted the best start to a year in two decades, a sign the global economy is poised to accelerate after contractions in Japan, the U.S. and Europe, if history is a guide.
U.S. stocks erased gains as optimism about Federal Reserve plans to buy more bonds faded, with investor focus returning to the budget deadlock in Washington. The dollar pared losses; Treasury yields remained higher.
The Republican victories in Congress mean U.S. companies from Goldman Sachs Group Inc . to WellPoint Inc . may be able to weaken or block what they consider President Barack Obama ’s anti-business policies on health care, the environment, taxes and financial reform.
Aug. 27 (Bloomberg) -- Thomas Lee, chief U.S. equity strategist at JPMorgan Chase, talks with Bloomberg's Adam Johnson and Linzie Janis about the outlook for stocks. They speak on Bloomberg Television's "Street Smart." (Source: Bloomberg)
U.S. stocks fell, halting a three-day gain, and commodities trimmed an early advance as a contraction in American manufacturing and concern about the budget debate overshadowed optimism on China’s economy. Treasuries and the dollar fell.