Emerging Stocks Rise, S&P 500 Little Changed; Oil Drops
This article is for subscribers only.
Emerging-market stocks rose a second day as the European Union promised emergency aid to Ukraine while U.S. and Russian diplomats held talks. The Standard & Poor’s 500 Index held near a record while oil declined.
The MSCI Emerging Markets Index gained 0.3 percent by 4:32 p.m. in New York, even as Russian shares fell. The S&P 500 lost less than one point after reaching an all-time high yesterday. Spain’s two-year yield touched 0.67 percent, the lowest level since Bloomberg starting tracking the data in 1993. The yen fell to a one-week low versus the dollar. Nickel rose to a nine-month high, while oil lost 1.8 percent on rising U.S. supplies.