Emerging-market advanced, trimming the biggest monthly slide since June, after better-than- estimated U.S. data bolstered optimism about global growth. Russia’s ruble tumbled to the lowest level in four years.
U.S. stocks rose, with the Standard & Poor’s 500 Index climbing to a record, as retailers led gains amid optimism over the holiday shopping season. Treasuries extended their advance after Janet Yellen said the American economy must improve before cuts to monetary stimulus.
U.S. stocks rose, sending benchmark indexes to records, as Macy’s Inc. led a rally among retailers and investors speculated the Federal Reserve’s Janet Yellen will continue the central bank’s stimulus policy as chairman.
Even with the flawed roll out of health-care reform and uproar over spying, Barack Obama is enjoying one of the best stock markets for a re-elected president. Signs are building that it might not last.
Suffering from a debt hangover for the past four years, Americans will resort to a time-honored cure -- hair of the dog that bit them. A pickup in borrowing will give the world’s biggest economy a much-needed boost next year as federal government austerity pinches growth.