U.S. stocks are poised to extend a rally relative to gold that was interrupted at midyear when the precious metal’s price climbed, according to Tobias Levkovich, Citigroup Inc.’s chief U.S. equity strategist.
Stocks rose with Treasuries and the dollar weakened as Lawrence Summers withdrew his bid to become Federal Reserve chairman. Crude oil fell after the U.S. and Russia agreed on a plan to eliminate Syria’s chemical weapons.
U.S. stocks rose, sending the Standard & Poor’s 500 Index to a five-week high and within 1 percent of a record, after Lawrence Summers withdrew his bid to be Federal Reserve chairman and tensions over dealing with Syria’s chemical weapons eased.
U.S. stocks rose, led by automakers and technology companies, as a Senate panel voted to authorize military action in Syria and the Federal Reserve said the economy maintained a “modest to moderate” pace of growth.
U.S. stocks rose for a second day, led by chipmakers and automobile companies, and Treasuries fell as the Federal Reserve said the economy maintained a “modest to moderate” pace of growth. Shares in the Middle East sank as the U.S. moved closer to a military strike against Syria.