Economics
Stocks Extend Rally as Fed Angst Eases; Supply Drop Boosts Crude
- Dollar retreats as oil rebound bolsters ruble to ringgit
- Asian index futures signal more gains; Kiwi near 2-month low
Why Would Draghi Like Yellen to Raise the Fed's Rates?
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Don’t fear the Fed is the new mantra for global markets.
U.S stocks rose to their highest level in almost a month amid mounting investor optimism that the world economy can withstand higher interest rates from the Federal Reserve. European equities extended gains, while emerging-market stocks rose the most in six weeks. Gold fell amid a retreat in the dollar, while oil jumped to a seven-month high on declining U.S. output and supplies. Canada’s currency strengthened from near a seven-week low after the nation’s central bank kept key interest rates on hold.