U.S. stocks rose, as technology shares rallied a second day, while Treasuries fluctuated and the dollar sank after Federal Reserve meeting minutes eased concern about the timing of future interest rate hikes.
U.S. stocks were little changed, after the Standard & Poor’s 500 Index rose the most this year yesterday, as investors assessed the Ukraine crisis and weaker- than-estimated data on payrolls and services.
Emerging-market stocks rose a second day as the European Union promised emergency aid to Ukraine while U.S. and Russian diplomats held talks. The Standard & Poor’s 500 Index held near a record while oil declined.
U.S. stocks capped the best two-day rally since October and Treasuries rose as the unemployment rate slid to the lowest since 2008, fueling speculation the economy can weather reductions in monetary stimulus. Crude, gasoline and heating oil led commodity gains.
The Standard & Poor’s 500 Index bottomed three times near 1,120 last month and if history of past earnings and valuations is any guide, that level may have priced in an economic recession, LPL Financial Corp. said.
U.S. stocks rose, with the Standard & Poor’s 500 Index capping its best two-day rally since October, amid optimism economic growth is robust enough to weather stimulus cuts even as data showed weaker-than-forecast hiring.