U.S. Stocks Rise, Emerging Shares Enter Bull Market; Bonds Gain
- S&P 500 caps fifth weekly gain, European shares advance
- Turkish shares enter bull market as crude slips below $40
Volatility in Oil Impacting Global Markets
The Standard & Poor’s 500 Index erased losses for 2016 and emerging-market stocks capped a 20 percent rally from January to enter a bull market as favorable shifts in central-bank policies continued to fuel demand for equities. Oil fluctuated near a three-month high.
The S&P 500 pushed a rally from its February low to 12 percent, erasing the worst-ever start to a year. Gains accelerated this week after the Federal Reserve reined in its forecast for interest-rate increases. The MSCI Emerging Markets Index rose for a third day, pushing its gain from a 6 1/2-year low in January to 20 percent, with Turkish stocks also entering a bull market. A weaker euro boosted earnings prospects for European exporters, boosting equities in the region. U.S. crude slipped below $40 a barrel.