The US dollar may extend losses against its major counterparts in Currency Trading because a report created by economists will show U.S. companies cut fewer jobs in November. The euro could increase for a second day against the yen after European finance leaders played down the potential risks to their banks from Dubai’s debt problems.
U.S. stocks rose and the Dow Jones Industrial Average reached a 14-month high; Chinese manufacturing stocks grew at the fastest pace in five years and, according to the Dubai World, it is in discussion to restructure less than half its debt.
Caterpillar Inc., the biggest maker of earthmoving equipment, and aluminum producer Alcoa Inc. climbed more than 2.2 percent following the survey of production in China. Exxon Mobil Corp. helped send Standard & Poor’s 500 Index energy stocks to a 1.4 percent gain as oil rose for a second day. American International Group Inc. surged 8.6 percent after reducing debt owed to the U.S. government by $25 billion.