U.S. stocks and commodities climbed, with oil posting its biggest gain of the year, after bigger-than-forecast increases in American durable-goods orders and home prices bolstered optimism in the world’s largest economy. Treasuries erased earlier losses.
European stocks climbed to their highest level in 11 weeks as signs of stronger growth in China and Japan outweighed a selloff in Greek lenders after a meeting of euro-area leaders discussed the region’s debt crisis.
European stocks posted a weekly gain, rising to a 23-month high, as German investor confidence climbed to the highest in 2 1/2 years and U.S. lawmakers voted to temporarily suspend the government’s borrowing limit.
Profits at European companies are trailing analyst estimates by the most in at least five years, dragged down by manufacturing shares that had been forecast to lead a rally in the second half of the year.