S&P 500 Nears Record as ECB Meeting Looms; Oil Snaps OPEC Rally
- Policy meeting on Thursday seen delivering more stimulus
- Dollar swings back to gains as yen weakens for second day
Is the S&P 500 a Little Bit Overbought?
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U.S. stocks advanced, rising with emerging-market assets as investors speculated the European Central Bank will extend its monthly bond purchases to stoke growth in the region. Oil slipped from a 16-month high.
The S&P 500 Index neared its Nov. 25 record, buoyed by continued gains in financial shares and an advance in Verizon Communications Inc. on its agreement to sell a data-centers business. The dollar rallied in light currency trading, with the European Central Bank expected Thursday to extend its bond-buying program beyond March. Crude oil fell for the first time since OPEC agreed to cut production, and gold also declined. Treasuries were steady.