U.S. stocks climbed, with the Standard & Poor’s 500 Index erasing its 2015 declines after the Federal Reserve signaled caution on interest rates even as growth shows signs of accelerating. The euro sank on speculation policy makers in the region will need to bolster stimulus.
The S&P 500 jumped 1.8 percent to 2,062.14 by the 4 p.m. close of trading in New York, capping a two-day rally of 3 percent as technology and mining stocks drove gains. The Dow Jones Industrial Average also reversed this year’s declines as gains in European shares helped a gauge of global equities rise the most since Dec. 18. The euro fell to its weakest level versus the dollar since 2005 while Treasuries fell for a second day. U.S. oil was below $50 a barrel, near a five-year low.