Consumer spending that rose at the fastest pace in three years helped the U.S. economy grow at a 3.2 percent pace in the fourth quarter, overcoming government cutbacks and laying the foundation for a stronger expansion.
U.S. stocks fell for the week, giving benchmark indexes their biggest losses since 2012, as a selloff in emerging-market currencies and signs of weakness in China spurred concern that global growth will slow.
Brent crude rose for the first time in four days after the International Energy Agency raised its forecast for global oil consumption on a strengthening economy. West Texas Intermediate reached at a two-week high.
BlackBerry Ltd. shares surged as the U.S. Defense Department said its smartphones will be the primary device supported on a new network, showing that rivals are finding it difficult to unseat the longtime government supplier.