U.S. Stocks Rise, Treasuries Fall as Oil Leads Commodity Rally
- S&P 500 halts two-day slide, turns positive for the year
- Ten-year Treasury notes drop, commodities index surges
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U.S. stocks advanced to a three-week high, helping trim the first annual loss for global equities since 2011, while Treasuries declined as oil led a rally among commodities.
The Standard & Poor’s 500 Index halted a two-day slide as all 10 main groups climbed, and the MSCI All-Country World Index cut its loss for the year to 2.9 percent. European stocks trimmed their worst December drop since 2002. Oil gained above $37 a barrel amid forecasts for falling U.S. stockpiles. Yields on 10-year Treasury notes rose eight basis points to 2.31 percent, while a gauge of the dollar advanced.