Wall Street rises sharply as dollar loses ground

A report showing a dip in initial claims for state unemployment benefits last week did little to change broad expectations that the U.S. Federal Reserve would not increase interest rates before the second half of 2015 at the earliest. Let’s focus on the fact that the economy is doing okay,” said Steve Goldman, principal of Goldman Management in Short Hills, New Jersey. Wall Street's top banks expect the Federal Reserve to begin raising interest rates in September, according to a Reuters