US STOCKS-Wall Street rises sharply as dollar loses ground
* Dollar falls to a near 4-month low
* S&P 500 on track to record-high close
* Avon spikes on purported offer; company denies receiving offer
* Indexes up: Dow 1 pct, S&P 1 pct, Nasdaq 1.3 pct (Updates to mid-afternoon)
By Noel Randewich
May 14 (Reuters) - U.S. stocks rose sharply on Thursday afternoon and the S&P 500 was on track for a record-high close as a weaker dollar offered the possibility of stronger sales for U.S. multinationals.
The dollar moved to its lowest since January against a basket of currencies of major U.S. trading partners - good news for companies that have large foreign sales.
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.
The S&P 500 was on track to break its all-time high closing level of 2,108.92 set on April 24. Continuación...