U.S. Stocks Rise as Dollar Extends Slide, Bond Selloff Eases

---

U.S. stocks rose for the first time this week as the dollar weakened to a four-month low and a bond-market selloff showed signs of easing. Treasuries gained before a sale of 30-year bonds.

The Standard & Poor’s 500 Index increased 0.5 percent at 9:31 a.m. in New York, halting a three-day slide. The Stoxx Europe 600 Index gained 0.3 percent. The Bloomberg Dollar Spot Index retreated 0.5 percent. The yield on 10-year Treasuries fell four basis points to 2.25 percent while German bunds swung between gains and losses.

The dollar is heading for a fifth weekly decline, the longest streak since October 2013, as economic data undermine prospects for higher borrowing costs any time soon. Fewer Americans than forecast filed for unemployment benefits last week while wholesale prices unexpectedly declined in April, after data Wednesday indicated retail sales stagnated.

Source: Bloomberg

Gold Holds Above $1,200 as U.S. Retail Sales Cloud Rates Outlook

---

Gold held near a five-week high amid speculation that the Federal Reserve will push back a decision to raise interest rates after data showed U.S. retail sales were little changed last month.

Bullion for immediate delivery traded at $1,214.46 an ounce at 9:08 a.m. in Singapore from $1,215.75 on Wednesday, when the metal surged to $1,218.99, the highest since April 7, according to Bloomberg generic pricing. Gold in Shanghai jumped.

Gold has risen in May as the dollar fell on speculation the Fed isn’t getting any closer to raising borrowing costs for the first time since 2006. Retail sales barely budged in April, missing projections for a small gain. A liftoff in rates seems most probable in the late summer, according to David Altig, research head at the Fed Reserve Bank of Atlanta, who said it would be better for the bank to err on the side of waiting too long to raise rather than to tighten too soon.

Source : Bloomberg

old Rises to Five-Week High With Silver as Retail Sales Sputter

---

Gold and silver futures jumped to five-week highs as stalling U.S. retail sales revived speculation that a sputtering economy will spur the Federal Reserve to delay raising interest rates.

Gold futures for June delivery rose 2.2 percent to settle at $1,218.20 an ounce at 2:02 p.m. on the Comex in New York. Earlier, the price reached $1,218.50, the highest for a most-active contract since April 6. The dollar dropped to a 15-week low against a basket of 10 currencies.

The metal climbed this week as rising energy costs stoked inflation concerns. Crude-oil futures in New York have jumped 44 percent from a six-year low in March. Gold has traditionally been used as a hedge against accelerating consumer prices.

Source: Bloomberg

China Stock-Index Futures Are Little Changed After Loan Data

---

Chinese stock-index futures were little changed as investors weighed the prospect of more policy easing after monetary data missed economists’ estimates.

CSI 300 Index futures for May increased 0.1 percent to 4,680.60 at 9:18 a.m. in Shanghai. Property developers may be active after China’s new home sales jumped 16 percent last month. Tencent Holdings Ltd. may advance in Hong Kong after reporting a record profit in the first quarter.

The CSI 300 Index slid 0.6 percent. Hong Kong’s Hang Seng China Enterprises Index fell 0.8 percent, while the Hang Seng Index lost 0.6 percent. The ChiNext index of smaller companies declined 1.8 percent from a record on Tuesday. The Bloomberg China-US Equity Index increased 0.2 percent on Wednesday.

Source : Bloomberg