Economics
U.S. Stocks Cap Monthly Gain as Dollar Strengthens: Markets Wrap
- S&P 500 rises 2.2% in October, Dow jumps almost 1,000 points
- Treasuries fall, dollar gains as Fed decision due Wednesday
Kiuchi Says BOJ Decision No Surprise
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U.S. stocks capped the best month since February and the dollar strengthened as investors assessed the prospects for tax cuts and the next Federal Reserve chairman. The euro slipped as data showed inflation unexpectedly slowed in the region.
The S&P 500 Index finished October with a gain of more than 2 percent and the Dow Jones Industrial Average added nearly 1,000 points in the period, spurred by strong economic data, rising expectations for tax cuts and robust corporate earnings. Small caps led advances Tuesday to erase a loss for October. Facebook Inc. was little changed as its executives testified before Congress.