U.S. Stocks Rebound Amid Oil Rally, Greece Optimism; Kiwi Slides
The Challenge of Trading in a Range-Bound Market
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U.S. and European stocks rebounded from recent selloffs amid optimism Greece will reach a deal with creditors. Commodities producers rallied as oil advanced to a 2015 high and gold climbed the most in four weeks.
The Standard & Poor’s 500 Index rose 1.2 percent by 4 p.m. in New York. The index’s biggest gain in a month nearly wiped out a three-day slump that ended yesterday. The Stoxx Europe 600 Index climbed the first time in seven days. Germany’s 10-year bund yield topped 1 percent for the first time since September and Treasury 10-year rates hit October highs. U.S. oil jumped 2.1 percent as gold futures added 0.8 percent. New Zealand’s dollar slumped after an unexpected interest-rate cut.