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Dollar falls on weak U.S. data, stocks gain
The dollar fell on Wednesday after disappointing U.S. home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives. The Dow and S&P 500 set all-time closing highs. The less-than robust data fed worries the U.S. economy might be losing momentum. Also feeding that concern was data showing U.S. consumer spending rose modestly in October while a key measure of business spending plans fell for a second straight month. "With the global backdrop being so weak, the onus is on the U.S. data to ... (full story)