Sputtering U.S. Stocks Are Traced to Dollar Index’s Stall
Renewed strength in U.S. stocks may depend on the dollar’s ability to escape from its yearlong holding pattern and move higher, according to Gina Martin Adams, a strategist at Wells Fargo Securities. In a report Monday, she cited the relationship between the Standard & Poor’s 500 Index and the U.S. Dollar Index that’s displayed in the chart. “Perhaps contrary to popular belief, the S&P 500 may need a rising dollar to once again outperform,” she wrote.