Stocks, Commodities Rise; Yen Falls to Lowest Since ’09
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U.S. stocks advanced on speculation quarterly earnings would help equities rebound from their biggest weekly decline of the year. The yen weakened to the lowest since 2009 after the Bank of Japan’s stimulus efforts.
The Standard & Poor’s 500 Index gained 0.6 percent to 1,563.07 at 4 p.m. in New York, reversing an earlier drop of 0.3 percent. Japan’s currency sank 1.8 percent to 99.34 per dollar, while the Nikkei 225 Stock Average jumped to a 4 1/2-year high. The Stoxx Europe 600 Index gained 0.2 percent. The S&P GSCI gauge of 24 commodities jumped 0.6 percent as oil, copper and wheat rose. South Korea’s won slid to the weakest level in eight months.