S&P

U.S. stocks rose, with the Standard & Poor’s 500 Index erasing its 2014 loss to close at a record. The dollar gained as New York-area manufacturing grew more than forecast and the World Bank boosted its outlook for global economic growth, while crude oil led a rally in commodities.

The S&P 500 added 0.5 percent to a record 1,848.38 by 4:40 p.m. in New York. The Stoxx Europe 600 Index jumped 1 percent to a six-year high. The dollar strengthened against most major peers, gaining at least 0.4 percent versus the yen and euro. West Texas Intermediate crude jumped the most this year, rising 1.7 percent after U.S. supplies fell more than projected. The S&P GSCI commodities index rose to a one-week high as nickel and aluminum rallied more than 1 percent. Gold and sugar fell.