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Stocks, Oil Rise on Spain Budget, China Stimulus Bets

Stocks rallied and commodities rebounded from a seven-week low as Spain pledged to cut its deficit and speculation grew that China’s government will do more to support economic growth. The dollar and Treasuries fell.

The MSCI All-Country World Index climbed 0.8 percent at 4:30 p.m. in New York, rebounding from its biggest drop since July. The Standard & Poor’s 500 Index advanced 1 percent, halting a five-day slump, and the Shanghai Composite Index jumped the most in three weeks. The S&P GSCI gauge of commodities gained 1.3 percent as oil rebounded, while the dollar weakened versus all 16 major peers. Spain’s 10-year bonds rose for the first time in three days, while U.S. notes halted the longest rally since 2008.