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.