U.S. Stocks Rally on Busy Earnings Day as Crude Extends Rebound
- Oil rises above $33 after Russia moots meeting with OPEC
- Dollar weaker against euro after Fed, durable-goods data
The U.S. Is the Global Stock Market
U.S. stocks climbed as a rally in oil bolstered energy shares and investors digested earnings from Facebook Inc. to Under Armour Inc. Developing-nation equities rose on speculation the Federal Reserve will hold off on more policy tightening anytime soon.
The Standard & Poor’s 500 Index closed higher for only the second time this week after fluctuating earlier during what was the busiest day of the earnings season. Amazon.com Inc. tumbled in extended trade after its earnings trailed estimates. The MSCI Emerging Markets Index jumped following the dovish comments from the Fed in a statement Wednesday. West Texas Intermediate capped for a three-day advance, helping boost currencies of commodity-linked nations. The dollar extended its longest losing streak in four months versus the euro after a report showed U.S. durable-goods orders slumped.