Bloomberg, (22/01) -- The Standard
& Poor’s 500 Index rose for the first time in three days as optimism
global economic growth is accelerating offset disappointing company
earnings. The yen weakened against the dollar and gold slipped while
natural gas jumped as snow blanketed the U.S. Northeast.
 The S&P 500 added 0.3 percent to
1,843.80 by 4:23 p.m. in New York, with more than three stocks rising
for every two that fell on U.S. exchanges. The Stoxx Europe 600 Index
pared gains after touching a six-year high. Chinese shares jumped 1.8
percent as money-market rates fell the most in four weeks. The yen lost
0.2 percent as the Bloomberg Dollar Spot Index extended gains from a
five-month high. Gold fell 1 percent as Brent oil snapped a three-day
drop. Gas climbed 2.4 percent.
The International Monetary Fund raised
its forecast for global growth this year as expansion in the economies
of the U.S. and the U.K. quicken. Verizon Communications Inc., Johnson
& Johnson and Travelers Cos. lost more than 1 percent today,
dragging the Dow Jones Industrial Average down 0.3 percent after
reporting earnings. The People’s Bank of China added funds to the
financial system yesterday and expanded access to a lending facility for
banks after money-market rates jumped.
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