S&P 500 Rallies to Cap Best Week Since 2013 Amid Earnings
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The Standard & Poor’s 500 Index rose, capping the best weekly rally since January 2013 amid better-than-estimated corporate results. The dollar weakened after a doctor in New York tested positive for Ebola and oil sank.
The S&P 500 gained 0.7 percent at 4 p.m. in New York, extending its gain this week to 4.1 percent. The Dow Jones Industrial Average rose 0.8 percent, capping its best week this year. The Stoxx Europe 600 Index lost 0.3 percent to pare a weekly gain. Brazil’s Ibovespa Index rose 2.4 percent before an election on Oct. 26. The Bloomberg Dollar Spot Index slid 0.2 percent. U.S. crude sank 1 percent. Russia’s ruble fell to a record against the dollar before S&P affirmed its rating on the country’s sovereign debt.