Stocks erase drop as commodities gain

S&P closes at highest level since election

Asian Currencies

The Dollar Index, a gauge of the currency against six major peers, was little changed today and up 0.4 percent for November, snapping a three-month retreat.

The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies excluding Japan, rose for a sixth month, touching the strongest level since September 2011.

The Markit iTraxx Europe index, a benchmark for corporate credit risk, capped a six month of declines, dropping more than 30 percent during the period. The index of credit-default swaps linked to 125 investment grade companies rose less than one basis point today to 123, and is down from 177 basis points at the end of May.

Oil rose 1 percent to $88.94 a barrel and rallied more than 3 percent this month, after falling 11 percent in September and October. The S&P GSCI gauge of 24 commodities increased 0.1 percent and capped its first monthly advance since August.

The MSCI Emerging Markets Index climbed 0.3 percent, extending this month’s advance to 1.2 percent. India’s Sensex index added 0.9 percent to a 19-month high as the country’s quarterly gross domestic product growth matched estimates. Russia’s Micex Index gained 1.3 percent and the Shanghai Composite Index increased 0.9 percent. Benchmark gauges in Taiwan and Thailand added more than 1 percent.

Bloomberg News

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