U.S. Stocks Rise to Records, Dollar Advances With Oil
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U.S. stocks rose, with benchmark indexes closing at all-time highs, and the dollar advanced with oil and metals after China cut interest rates. The euro weakened as Mario Draghi said the European Central Bank must drive inflation higher.
The Standard & Poor’s 500 Index climbed 0.5 percent to a record at 4 p.m. in New York. The MSCI All-Country World Index advanced 0.7 percent, while the Stoxx Europe 600 Index rallied 2.1 percent to a two-month high. The euro fell the most in a year versus the yen, and the Bloomberg Dollar Spot Index jumped to a five-year high. Copper climbed 0.6 percent and oil climbed 0.9 percent.