(Reuters) - U.S. stocks rose on Friday, cheered by a higher profit forecast from drug maker Merck & Co. , while bonds wobbled on fears that lurking inflation pressures could prevent an interest rate cut in the near-term.
The dollar dropped to a two-year low against the euro after Yves Mersch, a member of the European Central Bank's governing council, said that the euro zone could absorb a hard landing by the U.S. economy.
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