S&P 500 Rallies Most in Five Weeks While Dollar, Oil Slip
ECB Will Stick to Their QE Guns: Saywell
The Standard & Poor’s 500 Index rose the most in five weeks, Treasuries gained and the dollar declined after weaker-than-forecast economic data fueled speculation the Federal Reserve may not raise interest rates as soon as estimated. Crude oil touched its lowest level since 2009.
The S&P 500 added 1.4 percent by 4 p.m. in New York, the most since Feb. 3. The Stoxx Europe 600 Index advanced 0.9 percent to a seven-year high, with Germany’s DAX topping 12,000 for the first time ever. Ten-year Treasury yields fell four basis points to 2.07 percent and the Bloomberg Dollar Spot Index declined 0.5 percent. West Texas Intermediate crude dropped 2.1 percent. Chinese shares climbed to the highest level since 2009 as the government vowed to support expansion.