Emerging-market stocks rose, snapping a three-day drop, as ICICI Bank Ltd. jumped on speculation India’s opposition party will take over government. The rand sank amid the longest South African bond slide in 15 years.
U.S. stocks fluctuated, after benchmark indexes fell four straight days, as investors weighed data showing faster-than-forecast economic growth and an unexpected drop in jobless claims for clues on the timing of cuts to Federal Reserve stimulus.
Emerging-market stocks declined to a three-week low after better-than-estimated U.S. data bolstered speculation the Federal Reserve will reduce stimulus. South Africa’s rand slumped to the lowest level since 2009.
The benchmark gauge for U.S. stock options rose for a seventh straight day in the longest streak since April 2012 on concern over the timing of Federal Reserve stimulus cuts and the outcome of budget negotiations.
U.S. Treasury yields rose to an 11- week high and stocks fell a fourth day as signs of economic growth fueled concern the Federal Reserve will scale back bond buying. Copper, gold and crude oil led commodities higher.
U.S. stocks fell a fourth day, the longest slump in 10 weeks for the Standard & Poor’s 500 Index, as investors weighed economic data for clues on the timing of Federal Reserve stimulus cuts amid optimism over a budget deal.
Prospects that Mikhail Khodorkovsky, the former Russian billionaire jailed a decade ago, will be freed in an amnesty program is leading Swedbank Robur and Prosperity Capital Management to predict a stock market rally.