The
Dow Jones Industrial Average erased its 2016 losses, as a weaker dollar
spurred a rally in commodity producers and industrial shares that
spread to the broader U.S. stock market.
Equities
pushed to the highest levels since the end of last year as a gamut of
companies that benefit from a lower U.S. currency, from General Electric
Co. to Coca-Cola Co., surged. A scaled-back pace of interest-rate
increases from the Federal Reserve sent the dollar spiraling lower,
helping the Dow extend a rebound of more than 11 percent from a two-year
low reached last month.
The
Standard & Poor’s 500 Index rose 0.7 percent to 2,040.56 at 4 p.m.
in New York, near its break-even level for the year. The Dow added 0.9
percent to close at the highest since Dec.
Source : Bloomberg
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