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Stocks Gain in May as Nasdaq Rebounds, S&P 500 Hits High

Equity markets worldwide rose for a fourth month, a rout in technology shares was erased and the Standard & Poor’s 500 Index reached a record in May as economic growth picked up and tensions between Ukraine and Russia eased.

The MSCI All-Country World Index jumped 1.8 percent and touched the highest level in more than six years. Emerging markets led gains in stocks as benchmark indexes in India, Russia, Hungary and Argentina jumped at least 8 percent. The S&P 500 added 2.1 percent as investors returned to technology stocks and sent Apple Inc. shares up 7.3 percent.