“Stocks advanced, helping the MSCI All-Country World Index pare its weekly loss, and commodities climbed after leaders of the Group of Eight said the global economy is gaining strength. The dollar weakened, and U.S. index futures were little changed.
The MSCI equity index rose 0.6 percent at 6:15 a.m. in New York, leaving the gauge little changed after three weeks of declines. Standard & Poor’s 500 Index futures swung between gains and losses. The S&P GSCI index of 24 commodities increased 0.2 percent as silver and copper advanced. The dollar slid against all 16 of its major peers, while the Swiss franc rose to records against the euro, the pound and the U.S. currency.
The strengthening world economy will pave the way for reductions in debt, G-8 leaders said before the end of their two-day summit, according to a draft statement. Confidence in the recovery may be hurt by reports today that will probably show U.S. personal spending and home sales weakened, following data yesterday that indicated slower growth in the world’s largest economy.”
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