Overnight: US stocks rally and dollar declines

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Overnight: US stocks rally and dollar declines. U.S. stocks climbed, after equities had their biggest two-day selloff in six weeks, as banks rose and an unexpected drop in retail sales bolstered the case for keeping interest rates low. The Standard & Poor's 500 Index advanced 1.3 percent to 2,065.87 at 4 p.m. in New York, after losing 1.9 percent in the previous two sessions. The gauge climbed back above its average price for the past 50 days, and posted its strongest gains in more than a month... The dollar weakened versus the euro for the first time in three days as investors questioned whether gains of more than 2 percent this week will prompt the Fed to soften its stance on the timing of an interest-rate increase... The greenback's rise to a 12-year high versus the euro has helped drag American stocks down 2.4 percent since a record on March 2, amid concern earnings growth will be lower than investors project. Full Article (VIEW LINK)


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