Stocks Climb With Treasuries as Dollar Drops on Summers

Stocks rose with Treasuries and the dollar weakened as Lawrence Summers withdrew his bid to become Federal Reserve chairman. Crude oil fell after the U.S. and Russia agreed on a plan to eliminate Syria’s chemical weapons.

The MSCI All-Country World Index increased 0.8 percent to the highest level since June 2008 and the Standard & Poor’s 500 Index jumped 0.6 percent, after rallying as much as 1 percent, at 4 p.m. in New York. The Stoxx Europe 600 Index advanced 0.6 percent to a five-year high. The yield on five-year U.S. Treasuries declined six basis points to 1.64 percent. The Bloomberg U.S. Dollar Index dropped 0.3 percent. Crude sank 1.1 percent while corporate bond risk slid to a three-month low.