US STOCKS-Wall St rises as jobless claims fall, dollar weakens
* 4-week jobless claims average near 15-year low
* Dollar falls to a near 4-month low
* Avon spikes on purported offer; company denies receiving offer
* Indexes up: Dow 1 pct, S&P 0.9 pct, Nasdaq 1.2 pct (Updates to early afternoon)
By Tanya Agrawal
May 14 (Reuters) - U.S. stocks rose sharply on Thursday as weekly jobless claims fell and the dollar slid to its lowest in nearly four months amid a choppy bond market.
Initial claims for state unemployment benefits slipped by 1,000 to a seasonally adjusted 264,000 last week, while the 4-week jobless average stayed near a 15-year low.
The dollar was at its lowest since January against a basket of currencies of major U.S. trading partners. That's good news for companies that have large foreign sales as it increases the value of those sales when converted to the U.S. currency.
"A lot of people are looking at the data as non-inflationary, which leads them to believe that the Fed might delay raising rates," said Jeff Powell, chief investment officer of Polaris Wealth Advisers, in San Francisco, which oversees $600 million. Continuación...