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S&P 500 Rallies to Fresh Bull Territory; Oil Rises: Markets Wrap
- Oil surges as top producers continue to discuss output cuts
- European shares end mostly lower amid struggle over stimulus
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U.S. stocks climbed back into bullish territory on optimism for another round of stimulus and an eventual move toward reopening the economy. Oil surged amid expectations for production cuts.
The benchmark S&P 500 Index jumped 3.4%, sending the gauge more than 20% over its March 23 low, which tradition says signals a bull market. Real estate, energy and utilities led the gains in all 11 market sectors. The Dow Jones Industrial and Nasdaq Composite indexes also rose to almost four-week highs.