Global stocks gained, with the Standard & Poor’s 500 Index climbing for a third day, as companies from Tesco Plc to Yahoo! Inc. jumped on earnings and U.S. industrial production increased. Treasuries fell while copper rose.
Weibo Corp.’s done half the job that Twitter Inc. has in turning its microblogging users into earnings. That may explain why the Chinese company is seeking as little as half the valuation in its initial public offering.
Asian stocks rose for the first time in four days amid a rally in telecommunication shares and as investors weighed prospects for stimulus after China’s economic growth slowed to the weakest pace in six quarters.
U.S. stocks climbed for a second day as optimism grew over corporate earnings and the Nasdaq Composite Index rebounded after falling near its average level for the past 200 days. Treasuries rose amid increasing tensions in Ukraine, while emerging markets slumped on signs China’s economy is slowing.
China Southern Airlines Co., the nation’s third-largest carrier, estimated a loss in the first quarter, compared with a profit in the same period last year, as a weaker yuan caused foreign-exchange losses.
Asian stocks slipped to a two-week low as Chinese equities tumbled after a report showed the slowest increase in the nation’s money supply on record, underscoring risks of a deepening slowdown in the world’s second-biggest economy.