U.S. Stocks, Commodities Gain as Euro Erases Drop Before ECB
- S&P 500 climbs on seventh anniversary of bull market run
- Crude tops $38 after data shows gasoline inventories dropped
Why An Easing ECB Is Not a Sure Thing for Markets
U.S. stocks and commodities gained, while the euro erased losses as investors speculated on the size and scope of any additional stimulus from the European Central Bank. Treasuries fell, while crude rallied.
Energy companies led gains, as the Standard & Poor’s 500 Index climbed off its lows for the session to advance on the seventh anniversary of the bull market. Europe’s benchmark equity index advanced for the first time in three days, while the euro wiped out declines to close little changed versus the U.S. dollar. The ECB is widely expected to boost stimulus when it meets Thursday, though the extent of the increase is debated. Oil rose to top $38 a barrel in New York, as currencies from resource-exporting countries strengthened.