Economics
U.S. Stocks Climb, Led by Energy Shares Amid Stimulus Prospects
- ECB's Draghi highlights downside risks, potential stimulus
- S&P 500 Index recovers from lowest level since April 2014
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U.S. stocks rose, with the Standard & Poor’s 500 Index recovering from a 21-month low, as energy shares rallied with oil and the European Central Bank signaled the potential for more stimulus measures amid uncertain prospects for global growth.
Chevron Corp. climbed 2.6 percent and Home Depot Inc. surged 3.3 percent as energy and consumer discretionary companies paced the rebound from yesterday’s selloff. Verizon Communications Inc. gained 3.3 percent after its profit beat estimates. Banks in the S&P 500 slumped, with Bank of America Corp. falling 2.4 percent. Union Pacific Corp. lost 3.6 percent after its earnings missed forecasts.