Economics
Global Stocks Climb on China Stimulus Bets; Gold Slides
Oil Comes Off Second Straight Week of Gains
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Corporate mergers and optimism that central banks will boost stimulus to support growth sent stocks higher around the world. The dollar strengthened, while gold slid the most in three weeks.
The Standard & Poor’s 500 Index climbed 1.2 percent by 4 p.m. in New York, capping its first two-day rally since Feb. 17 and extending a ninth quarterly gain. The Stoxx Europe 600 Index rose 1.1 percent, headed for its best quarter since 2009, while the MSCI Emerging Markets Index rebounded. The Bloomberg Dollar Spot Index rose 0.7 percent, advancing for a third day. U.S. crude slipped 0.4 percent, while gold sank 1.3 percent.