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U.S. Stocks Rise Amid Buffett’s Apple Bet, Oil Rally; Bonds Slip

  • WTI oil exceeds $47 as Goldman Sachs boosts price forecast
  • Copper to nickel advance amid commodity price bounce
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Oil Advances as Goldman Forecasts a Deficit

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U.S. equities climbed as Warren Buffett’s bet on Apple Inc. sent the iPhone maker’s shares rallying, while crude oil’s surge to a six-month high amid speculation a supply glut has eased boosted commodity-producer shares around the world.

The S&P 500 Index rebounded after three weeks of losses, with Apple jumping the most in 10 weeks after Berkshire Hathaway Inc. disclosed a stake. Oil extended last week’s gains past $47 a barrel as Goldman Sachs Group Inc. increased its price forecast, saying the market had moved into a supply deficit earlier than expected. Precious metals rallied with aluminum and materials producers climbed, boosting stocks in developing nations.