Stocks Rally With Oil as Risk Assets Rebound; Treasuries Retreat
- S&P 500 caps its longest rising streak since December
- Iran backing output freeze underpins crude oil recovery
U.S., Emerging Market Growth 'Not So Bad:' Erik Nielsen
Stocks rallied as investors piled back into riskier assets, sending emerging-market currencies and equities higher after a retreat in the yuan triggered losses in Asia. U.S. crude oil rose back above $30 a barrel.
The Standard & Poor’s 500 Index climbed a third day, its longest rising streak this year, to extend its rebound from a 22-month low reached Feb. 11. Some of this year’s most beaten-down stock sectors, including technology, energy and banks, led the recovery amid speculation the slump that sent global equities into a bear market last week. Developing-nation currencies and shares also gained as oil prices extended their rally in afternoon trading. Treasuries declined for a third day, their longest slump since December.