Dollar Drops While Gold Tops $5,000, Stocks Rise: Markets Wrap

Modest gains in stocks and bonds were overshadowed by volatility in energy, commodity and foreign exchange markets at the start of a busy week. The dollar fell to the lowest since 2022, gold topped $5,000 and natural gas jumped almost 30% as cold weather gripped much of the US.

The S&P 500 extended its January advance ahead of high-stakes megacap results. With the Federal Reserve expected to pause its rate cuts, Treasuries remained in a narrow range. The greenback slid on speculation the US could coordinate intervention with Japan to support the yen. After the close, big US insurers including UnitedHealth Group Inc., CVS Health Corp. and Humana Inc. tumbled on a report the US will hold payments to private Medicare plans flat next year.