Stocks Gain on Growth Outlook; Dollar Turns Weaker: Markets Wrap
- Jobs, PCE data seen as key for rates after U.S. GDP revised up
- Euro softens on report ECB officials concerned about currency
Gasoline Extends Best Rally Since 2013
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U.S. stocks rose after data underscored the resilience of the American and Chinese economies and concern over North Korea shifted to the background. The dollar slumped after Steven Mnuchin said a weaker currency is “somewhat better” for trade.
The S&P 500 Index erased a monthly loss with its fifth straight advance. Miners led gains in the Stoxx Europe 600 Index after a rise in Chinese manufacturing buoyed industrial metals. Emerging-market stocks a eighth monthly gain to end at the highest since 2014. The dollar also turned lower on weak inflation data, while 10-year Treasury yields slipped to 2.12 percent. Oil rose and gasoline climbed for an eighth day amid the impact of Harvey.