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Stock Surge Sends Nasdaq 100 to 15-Year High While Bonds Retreat

  • S&P 500 tops 2,100, reversing losses since yuan devaluation
  • Oil and gold drive commodities lower; Turkish lira soars
Bloomberg business news

S&P 500 Best October Since 2011

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The U.S. and Europe have, for one day at least, proven more influential within global financial markets than China, where softer manufacturing data failed to quell demand from equity investors who instead looked for signs of strength elsewhere.

American stocks joined gains in European equities, pushing the Nasdaq 100 Index to its highest level since 2000, after factory data in Germany, Italy and the U.S. topped estimates and as health-care deals fueled optimism. The unexpected acceleration in output hit demand for government bonds and boosted the euro. Most commodities took heed of the Chinese data, which showed manufacturing contracted again last month.