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Stocks Climb With Bonds as BOJ Ends Grim January on High Note

  • S&P 500 jumps most since Sept. as Microsoft lifts tech shares
  • WTI climbs to cap second weekly gain on output cut speculation
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'Outstanding Value' in Asia High-Dividend Income Stocks

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U.S. stocks joined an advance in global equities, while bonds rallied as the Bank of Japan’s unexpected monetary stimulus boosted confidence that central banks remain vigilant of slowing economic growth. The yen tumbled, while oil gained.

The Standard & Poor’s 500 Index extended gains throughout the day to post the biggest advance since Sept. 8, while the Dow Jones Industrial Average rose almost 400 points as Microsoft Corp. rallied on earnings. Yields on 10-year Treasury notes retreated, while Japanese yields fell to records after the BOJ adopted a negative interest rate. The yen weakened versus the U.S. dollar by the most in more than a year. Oil climbed for a fourth day.