Oil Trades Near $60 as U.S. Supplies Seen Falling Third Week

Oil traded near $60 a barrel before U.S. government data forecast to show crude stockpiles declined for a third week. Futures were little changed in New York after slipping 0.4 percent on Monday. Crude inventories probably shrank by 2 million barrels through May 15, according to a Bloomberg survey before an Energy Information Administration report Wednesday. OPEC’s current output target of 30 million barrels a day is right, Iran’s Deputy...

Euro Holds Losses on Concern Greek Bailout Deal Remains Elusive

The euro held losses against the majority of its peers on concern Greek banks will be pushed toward insolvency if the government fails to reach an agreement with creditors. The 19-nation currency had its biggest drop in two months on Monday as the standoff between Greece and its lenders triggered an unprecedented liquidity squeeze, renewing doubts about the country’s place in the euro area. The euro rallied 4.6 percent in April, snapping...

Most Asia Stocks Rise After U.S. Shares Hit Records, Yen Weakens

Most Asian stocks rose after U.S. equity gauges climbed to fresh records and the yen weakened, boosting Japanese shares. About three stocks rose for every two that fell on the MSCI Asia Pacific Index, which traded little changed at 153.39 as of 9:03 a.m. in Tokyo. Japan’s Topix index added 0.2 percent after the yen fell 0.6 percent against the dollar on Monday. The Standard & Poor’s 500 Index rose 0.3 percent and the Dow Jones Industrial...

Japan’s Topix Heads for Seven-Year High as Yen Boosts Exporters

Japanese stocks rose, with the Topix index trading near its highest level since 2007, as a weaker yen boosted exporters. The Topix climbed 0.2 percent to 1,630.36 as of 9:02 a.m. in Tokyo, gaining for a third day and headed for the highest close since November 2007. The Nikkei 225 Stock Average advanced 0.5 percent to 19,981. The yen traded at 119.93 per dollar after weakening the most in more than two weeks on speculation the U.S. economy...

Rally in Apple, Bank Shares Sends U.S. Stocks to All-Time Highs

U.S. stocks rose to all-time highs as Apple Inc. climbed on comments from Carl Icahn and banks rallied amid higher bond yields. The Standard & Poor’s 500 Index climbed 0.3 percent to 2,129.01 at 4 p.m. in New York, closing at a record for the third consecutive session. The Dow Jones Industrial Average added 0.1 percent to also close at an all-time high, its first since March 2. The back-to-back weekly advance halted a string of five...