U.S. stocks rose, sending the Standard & Poor’s 500 Index rebounding from a six-week low, on better-than-estimated global manufacturing data and a report showing the American labor market is improving.
Emerging-market stocks dropped to a six-week low after Federal Reserve minutes showed broad support for stimulus cuts, fueling concerns capital outflows will accelerate. Turkey’s lira and the Indian rupee fell to records.
U.S. Treasury Secretary Jacob J. Lew is trying to persuade Congress to raise the $16.7 trillion debt ceiling without the drama that contributed to a stock market rout in 2011. A stronger economy this time around may help keep investors calm.