S&P 500 Climbs to Record as Oil Gains, Ruble Hits Low

The Standard & Poor’s 500 Index climbed, for the biggest monthly rally since February, amid optimism in the strength of the U.S. economy. Metals and oil led commodities higher, while the ruble slid to a record low.

The S&P 500 rose 0.3 percent to a record 2,003.36 at 4 p.m. in New York, bringing its rally for the month to 3.8 percent. The Stoxx Europe 600 Index jumped 0.3 percent, erasing a loss. Ten-year Treasuries dropped 22 basis points this month, the most since January. The euro posted its longest stretch of weekly declines in more than a decade. Russia’s currency extended a monthly drop as the Ukraine conflict intensified. Aluminum reached an 18-month high, and oil added 1.5 percent. The MSCI Emerging Markets Index capped its longest streak of monthly gains since 2005.