Dollar at 6-week low boosts metals; stocks mixed

Bloomberg

The dollar slipped to a six-week low, boosting commodities from copper to crude as the post-election rally continued to falter in the Trump administration’s early days. US stocks fluctuated as investors assessed a slate of mixed corporate results.
The Bloomberg Dollar Spot Index headed for its longest slump since November, extending losses after weak housing data. Johnson & Johnson and Verizon Communications Inc. led declines in the Dow Jones Industrial Average, while homebuilders rallied after D.R. Horton Inc.’s results. The yield on 10-year Treasury notes rose to 2.42 percent. A gauge of commodities prices headed for the highest close since July. Politics set the tone on financial markets, as a UK court ruled parliament must vote on any Brexit plan and Donald Trump was said to target approving contested oil pipelines a day after he moved to rewrite America’s trade relationships. Corporate earnings have so far failed to provide a clear signal on the health of the US economy at the end of 2016, with the first reading on last quarter’s output due Friday.