U.S. stocks are rebounding from a seven-day decline that erased $1 trillion from equity prices and coincided with a 15% drop in West Texas Intermediate crude between Dec. 5 and Dec. 16. S&P 500 energy producers tumbled 8% over the stretch.
U.S. index futures rose, while the dollar pared gains and Treasuries trimmed losses after data showed the cost of living fell by the most in six years before the Federal Reserve’s policy decision. European stocks fell with oil and the ruble reversed a decline.
Ford Motor Co., starting to ship its new aluminum-bodied F-150 pickup, fell as much as 4.4% after Deutsche Bank AG downgraded the automaker on concern that the truck won’t command premium prices amid low fuel costs.
The dollar rose against most major peers as investors speculate whether the Federal Reserve is moving closer to raising interest rates with the U.S. economy strengthening while inflation persists below the central bank’s target.