Commodities climbed the most in two months as crude oil and natural gas surged amid frigid weather along the U.S. East Coast. Emerging-market stocks rose for the first time in five days while the Standard & Poor’s 500 Index gained for a second session as companies posted earnings.
Apple Inc.’s shares surpassed $700 as record first-day orders for the latest iPhone fueled optimism that the company will keep generating the revenue growth that transformed it from a niche computer manufacturer into the world’s most valuable business.
U.K. stocks declined, erasing last week’s gains on the benchmark FTSE 100 Index, amid concern that the new leaders in Italy and Greece may not be able to push through the measures required to stem the debt crisis.
European stocks tumbled to a two- month low amid mounting concern about the region’s debt crisis and as a U.S. report showed employers in the world’s largest economy added fewer jobs in March than forecast.