U.S. Stocks Rise on Consumer Confidence After Debate; Oil Slumps
- Iran sinks crude with unwillingness to freeze production
- Most Asian index futures fall with Topix going ex-dividend
Mexican Peso Rejoices as Clinton Seen to Trump Trump
U.S. stocks shrugged off a drop in oil, rallying as consumer confidence jumped and banking shares rebounded. Mexico’s peso led emerging-market currencies higher on the perception American presidential nominee Hillary Clinton beat Donald Trump in their first debate.
The S&P 500 Index furthered its quarterly advance, led higher by technology and retail companies, while European stocks halted a two-day rout as lenders trimmed their losses. Mexico’s peso, increasingly a barometer of anxiety around the Trump campaign, jumped the most since February versus the dollar. Treasuries advanced to a three-week high as the greenback retreated. Oil tumbled as Iran said it’s unwilling to freeze output at current levels and wants to raise production to 4 million barrels a day. Gold and copper also declined.