Stocks decline and dollar rebounds as Fed readies rate cuts

Aug 22 - Stocks fell and the dollar gained on Thursday as traders digested fresh economic data and awaited confirmation from the U.S. Federal Reserve on Friday that it will soon start to cut interest rates.

On Thursday, fresh data showed the number of Americans filing new applications for unemployment benefits rose in the latest week, consistent with a gradual cooling of the labor market. "If they are not announcing that they have won on inflation, they are saying they expect to win relatively soon," Englander wrote in an email on Thursday.

They added to initial gains after data for the euro zone showed surprising strength in business activity this month.Oil prices rallied after losses driven by investors worried about the global demand outlook. U.S. crude and Brent both gained about 1.4% on the day.

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