Economics
U.S. Stocks Rally Amid Stimulus Optimism Led by Energy Shares
- Energy rally tracks crude's best 2-day climb since 2008
- Apple jumps the most since August to power tech gains
Nouriel Roubini: Global Economy Not Back to 2008
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The Standard & Poor’s 500 Index capped its strongest two-day rally in three months, amid speculation central banks around the world will act to support the global economy even as the Federal Reserve tightens policy.
Energy companies led, posting their first weekly advance this year, with Schlumberger Ltd. and Valero Energy Corp. gaining at least 6.1 percent. Technology shares added 2.8 percent, with Apple Inc. rising the most since August. JPMorgan Chase & Co. climbed 3.1 percent to lead a rebound by banks. American Express Co. slumped 12 percent, the biggest drop since 2009, after its quarterly earnings fell 38 percent.