Economics
U.S. Stocks Rise With Oil as S&P 500 Rallies to Six-Week High
- Investors continue to buy beaten-down banks, commodity shares
- VIX volatility index fell below 20 for first time in 3 weeks
Shocks or Stability Ahead for U.S. Equities?
This article is for subscribers only.
U.S. stocks rallied, with the Standard & Poor’s 500 Index closing at a six-week high, amid broad gains as a surge in oil prices helped lessen concern that a slowdown in global growth is deepening.
Investors continued to load up on some of the year’s worst performers, with banks up for the fifth time in six days as Wells Fargo & Co. and Bank of America Corp. increased at least 2.2 percent. Copper miner Freeport-McMoran Inc. climbed almost 15 percent and is up 62 percent since Feb. 11. United Technologies Corp. jumped as much as 7.6 percent after CNBC reported the company has held merger talks with Honeywell International Inc.