U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding following the biggest drop since June, as Treasuries retreated and Turkey’s lira led gains among emerging-market currencies. A gauge of stocks in developing nations extended its worst-ever start to a year.
ARM Holdings Plc, the semiconductor designer whose products power Apple Inc.’s iPhone and iPad, reported slower growth in royalty revenues in the fourth quarter as the market for high-end smartphones cooled.
Google Inc.’s $3.2 billion purchase of a digital thermostat maker may jump-start a multibillion- dollar race to acquire companies that are powering the rise of Web-connected devices across homes, cities and workplaces.
European stocks rallied for a second week, closing at their highest level since May 2008, following better-than-forecast U.S. economic data and after the International Monetary Fund said it will raise its growth outlook for the nation.