U.S. Stocks Advance Before Payrolls as Brazil Enters Bull Market
- Commodity share gains offset health, tech losses in U.S.
- Prospect of Brazilian president's impeachment boosts real
What's Driving Market Turmoil?
Energy producers helped U.S. stocks to a third day of gains, erasing earlier losses as investors examined economic data ahead of a crucial employment report on Friday. Brazilian stocks entered a bull market, surging with the real.
Declines in health-care and technology stocks were outweighed by a rebound in energy and raw-material shares in the Standard & Poor’s 500 Index. Earlier, the gauge fell as much as 0.5 percent as data showed jobless claims increased, while growth in U.S. service industries slowed. Brazil’s real strengthened, and the Ibovespa capped for its best day since October 2009, amid heightened speculation that a push to oust President Dilma Rousseff is gaining momentum. U.S. crude oil settled near an eight-week high.