U.S. stocks climbed on optimism that officials will come to terms on fresh economic stimulus, putting a gauge of global stocks on the verge of erasing this year’s losses. Gold extended gains amid speculation interest rates will stay low for longer.
The S&P 500 rose for a fifth straight day, with Apple Inc. leading the charge as it reached a record and helping lift the MSCI All-Country World Index to little changed for the year. Stocks got a lift in the afternoon as lawmakers pledged to keep working toward a coronavirus relief package and President Donald Trump said he could act unilaterally on some measures. The dollar slipped.