Global Shares Advance on Crude Rally, Dollar Slips as Fed Looms
- S&P 500 edges higher before Apple earnings; small-caps jump
- Emerging assets advance as crude rebound outweighs Fed
FOMC Preview: China and a Data Dependent Fed
Global stocks edged higher, halting the longest losing streak since February after crude advanced to a five-month high. The dollar weakened toward a 10-month low as investors braced for tomorrow’s central bank policy decision.
The Standard & Poor’s 500 Index was little changed after three days of closing in a four-point range. Futures on the Nasdaq 100 tumbled 1 percent at 4:44 p.m. in New York after Apple Inc. reported the first quarterly revenue drop in more than a decade and forecast another. Energy producers led a rally in small-cap shares that took the Russell 2000 Index 1.1 percent higher. The Ibovespa led gains among the world’s major equity markets on speculation Brazil would install a former central bank chief as finance minister. Treasuries retreated a seventh day. Crude rallied more than 3 percent before inventory data.