Gold Fell Most This Month as Housing Data Boosts Rate Concerns

Gold fell the most since April on speculation that an improving U.S. housing market will boost the case for the Federal Reserve to raise U.S. interest rates. U.S. housing starts jumped to a seven-year high last month, government data showed Tuesday. The rise extended gains in the dollar, curbing bullion’s appeal as an alternative asset, after the European Central Bank said it will speed up bond buying. Gold has posted three straight...

Euro Drops After ECB Official Pledges to Speed Up Bond Purchases

The euro tumbled the most in two months after a European Central Bank official said policy makers plan to boost bond purchases before an anticipated mid-year lull. The single currency slumped after Executive Board member Benoit Coeure said the ECB will increase purchases under its quantitative-easing program from 60 billion euros ($67 billion) in May and June, ahead of a drop-off in market liquidity. The euro extended losses versus the...

Japan Economy Grows More Than Forecast as Business Spends More

Japan’s economy expanded for a second straight quarter, beating forecasts as businesses increased spending and boosted inventories. Gross domestic product grew at an annualized 2.4 percent in the three months through March from the previous quarter, when it increased by 1.1 percent, the Cabinet Office said on Wednesday. The median estimate of 28 economists surveyed by Bloomberg was for a gain of 1.6 percent. Capital investment gained...

U.S. Stocks Close Little Changed From Records After Housing Data

U.S. stocks closed little changed, with the Standard & Poor’s 500 Index slipping from a record, after data showing housing starts surged to a seven-year high bolstered speculation the Federal Reserve may raise interest rates this year. The Standard & Poor’s 500 Index declined 0.1 percent to 2,127.87 at 4 p.m. in New York, snapping a three-session string of all-time highs. The Dow Jones Industrial Average rose 0.1 percent to...

U.S. Stocks Fluctuate Amid All-Time Highs After Housing Data

U.S. stocks fluctuated, with benchmark indexes near records, after data showing housing starts surged to a seven-year high bolstered speculation the Federal Reserve may raise interest rates this year. Wal-Mart Stores Inc. slumped 4 percent after quarterly results missed estimates, while Urban Outfitters Inc. tumbled 17 percent after profit and sales were short of analysts’ projections. Energy shares slid with oil prices. Banks extended...