Yen Rises Most in 2 Weeks as Oil Spurs Haven Bid; Real Rallies

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The yen strengthened the most in two weeks against the dollar as oil prices slumped to a five-year low, feeding demand for haven assets.

The yen appreciated 1 percent to 119.48 per dollar as of 5 p.m. New York time after adding as much as 1.5 percent, the biggest gain since Dec. 16. It advanced 1 percent to 145.25 versus the euro. The 18-nation common currency traded at $1.2156 after falling to $1.2124, the weakest since July 2012. The Aussie slid as much as 0.2 percent to NZ$1.0422.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 trading partners, dropped 0.4 percent to 1,128.69. It closed at 1,133.13 on Dec. 23, the highest since March 2009, and is up 11 percent this year.

West Texas Intermediate crude for February delivery slid as much as 91 cents to $52.70 a barrel in New York, the lowest since May 2009, before trading at $53.89.

Source : Bloomberg

Gold Climbs to Highest in a Week as Equities, Dollar Decline

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Gold futures rose to the highest in more than a week as world equities dropped and the dollar headed for the first decline in three sessions, boosting demand for bullion as an alternative asset.

The metal also climbed as Greece is expected to hold early elections on Jan. 25 after Prime Minister Antonis Samaras failed to secure the necessary votes to hold office. The nation™s ongoing debt crisis poses a risk to Europe™s economy. Gold priced in euros climbed 13 percent this year.

Gold futures for February delivery rose 1.6 percent to settle at $1,200.40 an ounce at 1:54 p.m. on the Comex in New York, after touching $1,210.90, the highest since Dec. 18. The price is down 0.2 percent for the year.

The MSCI All-Country World Index of shares slid 0.6 percent, heading for the biggest loss in two weeks. The Bloomberg Dollar Spot Index fell as much as 0.5 percent.

The yen appreciated versus most of its 31 major peers as the Bank of Japan said it will increase the length of maturity of the government bonds it buys.

Source : Bloomberg

U.S. Stocks Decline From Record Levels to Pare December Gains

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U.S. stocks fell, after the Standard & Poor™s 500 Index closed yesterday at a record for the 53rd time this year, as technology and utility companies sank the most in 18 months.

The S&P 500 dropped 0.5 percent to 2,080.34 at 4 p.m. in New York. The Dow Jones Industrial Average lost 54.65 points, or 0.3 percent, to 17,983.58. The Nasdaq 100 Index slid 0.7 percent as Apple Inc. lost 1.2 percent to pace declines among technology shares. Utility shares in the S&P 500 plunged 2.1 percent, the most since June 2013. Trading in S&P 500 companies was 35 percent below the 30-day average for this time of the day.

The S&P 500 has climbed 0.6 percent in December as the world™s largest economy expanded at the fastest pace in more than a decade and the Federal Reserve pledged to be patient on the timing of interest-rate increases.

The S&P 500 and Russell 2000 Index closed at all-time highs yesterday, while the Dow was near a record after climbing above 18,000 last week for the first time. The Nasdaq Composite Index finished at the highest level since March 2000.

December™s advance has extended the S&P 500™s rally for the year to 13 percent while the Dow has increased 8.5 percent. The Russell 2000 has advanced 4.3 for the year.

Source : Bloomberg

U.S. Shares Fall From Near Records; Treasuries Rise, Gold Surges

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U.S. stocks fell from near records, with the Standard & Poor™s 500 Index paring a seventh straight December gain, while Treasuries rose and gold surged. European and emerging equities slipped as energy shares declined.

The S&P 500 slid 0.3 percent at 11:56 p.m. in New York after closing at a record for the 53rd time in 2014. The Stoxx Europe 600 Index lost 0.9 percent to extend a December drop. The MSCI Emerging Markets Index fell 0.4 percent to push its loss this year to near 5 percent. Gold surged 1.8 percent to $1,203.70 an ounce. Russia™s ruble strengthened 5.1 percent, trimming its worst year since 1998. The yield on 10-year Treasury notes fell three basis points to 2.18 percent.

The S&P 500 has risen 0.8 percent in December, bolstered by the fastest expansion for the American economy in more than a decade. A report showed U.S. consumer confidence increased less than estimated this month. Oil traded near the lowest since 2009 in New York and London amid speculation U.S. crude inventories will stay at the highest for the time of year in at least three decades. Greek Prime Minister Antonis Samaras will request elections for Jan. 25, with the anti-austerity party Syriza leading polls.

Source : Bloomberg

Europe Stocks Fall From Three-Week High, Head for December Drop

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European stocks fell, heading for their first December decline since 2008, as energy shares slid.

The Stoxx Europe 600 Index dropped 0.9 percent to 341.02 at the close of trading. A gauge of oil and gas companies lost 1.8 percent, posting the biggest loss among 19 industry groups as oil prices traded near a five-year low. The broader European gauge has fallen 1.8 percent this month, with Greek equities slumping on concern about the implications of early parliamentary elections.

The Stoxx 600 has trimmed its annual advance to 3.9 percent. Greece™s ASE Index slid 15 percent this month as Prime Minister Antonis Samaras failed a third time to get enough backing for his presidential candidate, prompting him to recommend snap parliamentary elections. He met with President Karolos Papoulias in Athens today to request elections on Jan. 25. The opposition Syriza party leads polls as it pushes to abandon the austerity measures tied to Greece™s bailout.

Source : Bloomberg