Stocks Advance on Manufacturing Growth as Oil Gains With Silver

U.S. equities rebounded from the worst weekly slump since August and European stocks rose the most in two months amid manufacturing growth and as investors awaited the outcome of the Federal Reserve’s meeting. Brent oil jumped as Libyan rebels refused to hand over control of ports.

The Standard & Poor’s 500 Index rose 0.6 percent to 1,786.54 by 4:30 p.m. in New York, while the Stoxx Europe 600 Index increased 1.3 percent, the most since Oct. 10. The Bloomberg U.S. Dollar Index slipped 0.1 percent as the yen maintained gains versus the greenback. Ten-year Treasury yields rose one basis point to 2.88 percent. Brent and West Texas Intermediate oil jumped at least 0.9 percent and silver rallied more than 1 percent to help lead gains in commodities.