Dollar Rises Near 4-Month High as Fed Moves Toward Raising Rates

The dollar rose to almost a four-month high after the Federal Reserve moved a step closer to raising interest rates amid improvements in the labor market. The Bloomberg Dollar Spot Index, which tracks the currency versus 10 of its major peers, rose 0.3 percent to 1,207.66 at 5 p.m. in New York. The gauge climbed to 1,212.78 on July 24, the highest level since March. The dollar is up 7.7 percent this year among 10 developed-nation currencies...

Oil Climbs Most in Three-Weeks After U.S. Crude Supplies Decline

Oil advanced the most in three weeks in New York after U.S. crude stockpiles unexpectedly decreased as production and imports declined. Inventories fell 4.2 million barrels last week, Energy Information Administration data show. An 850,000-barrel gain was forecast by analysts surveyed by Bloomberg before the report. Crude production declined to a two-month low. Imports of both crude and fuels slipped in the week ended July 24. Crude...

U.S. Stocks Gain Amid Earnings as Fed Says Jobs, Housing Improve

U.S. stocks rallied for a second day, as earnings topped forecasts and the Federal Reserve said the labor and housing markets are improving. The Standard & Poor’s 500 Index rose 0.7 percent to 2,108.47 at 4 p.m. in New York, after climbing above its average prices during both the past 50 and 100 days. The labor market “continued to improve, with solid job gains and declining unemployment,” the Federal Open Market Committee said...

U.S. Equities Advance Amid Earnings Reports Before Fed Decision

U.S. stocks advanced, after equities’ biggest gain in two weeks, amid better-than-estimated results from Gilead Sciences Inc. to General Dynamics Corp. before the Federal Reserve’s decision on monetary policy. Gilead gained 3.3 percent as quarterly results exceeded estimates and it raised its sales forecast. General Dynamics and Northrop Grumman Corp. jumped more than 4.7 percent after the defense contractors lifted their profit outlooks....

European Stocks Advance for Second Day on Earnings, M&A Boost

European stocks had their biggest two-day gain in two weeks as companies from Bayer AG to PSA Peugeot Citroen reported better-than-estimated earnings and deals activity intensified. Bayer and Peugeot rose more than 3.9 percent. GlaxoSmithKline Plc climbed 3.5 percent after the U.K.’s biggest drugmaker posted second-quarter profit that declined less than analysts had estimated. Barclays Plc added 1.8 percent and Numericable-SFR SAS added...