S&P 500 Caps Longest Rally of 2015 as Oil Advances, Dollar Falls
- Equities surge in Europe, emerging nations as commodities jump
- Traders pare rate-hike bets to 10% for October after payrolls
Europe Sees Biggest 2 Day Gain in a Month
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U.S. stocks surged to cap their longest rally of the year, as speculation the Federal Reserve will keep interest rates lower for longer boosted riskier assets from commodities to emerging-market equities. Junk bonds climbed.
The Standard & Poor’s 500 Index extended its advance to 5.6 percent over the past five days, while the Stoxx Europe 600 Index rose the most since August. Raw materials including copper and oil increased, pushing the Bloomberg Commodity Index to the highest level since Sept. 17. Bloomberg’s dollar gauge dropped a third day, while an exchange-traded fund that tracks high-yield corporate bonds soared the most since August.