Commodity stocks, lagging behind the Standard & Poor’s 500 Index by the most in 15 years, are poised to rally as analysts estimate profits will rise almost twice as fast as the rest of U.S. industry in 2014.
Global bonds plunged for a second straight month in June, stocks tumbled and the dollar began to rebound as the Federal Reserve set a timetable for ending the stimulus that drove equities to record highs and debt yields to record lows. Emerging markets suffered as China created a cash squeeze and protests turned violent from Turkey to Brazil.
U.S. stocks rallied, sending the Standard & Poor’s 500 Index higher for a third day, as concern eased that Japan will suffer a nuclear meltdown and after AT&T Inc. agreed to buy T-Mobile USA for $39 billion.
U.S. stocks fell, sending the Standard & Poor’s 500 Index down for a fourth straight day, after European Central Bank President Mario Draghi failed to reassure investors on immediate efforts to bolster the economy.
The Standard & Poor’s 500 Index fell a third day, its longest decline in seven weeks, as European leaders clashed on ways to stem the debt crisis and data from China and Germany signaled the slowdown is deepening.
U.S. stocks fell, putting the Standard & Poor’s 500 Index on pace for its worst month since September, as housing data disappointed and concern grew about Greece’s future in the euro and the health of Spanish banks.