Stocks Rally Amid Commodity Revival as Brazilian Assets Recover
- S&P 500 surges most since March amid gains in metals, oil
- Kiwi advances as central bank zeroes in on housing market
Stocks and Bonds Say QE Is So Over
U.S. stocks rallied the most in two months, joining a rebound in global equities as the bearish sentiment that set the tone in markets over the past fortnight eased amid a recovery in commodities. The yen weakened, while Brazil’s real climbed.
The Dow Jones Industrial Average jumped 222 points and European shares climbed to a three-week high, helping fuel the steepest one-day gain in the MSCI All-Country World Index since April 13. Emerging-market equities snapped a seven-day slide. Nickel led a rebound in Bloomberg’s Commodity Index, while crude oil jumped from a two-week low. Brazilian assets rebounded as the move to oust President Dilma Rousseff was put back on track. New Zealand’s dollar bounced, while the Japan’s currency nursed a two-day drop.