Russian stocks rose the most in six weeks in New York after talks on Ukraine yielded an accord aimed at easing the conflict, prompting investors to snap up shares of the cheapest major emerging market.
The dollar strengthened for a fifth day against a basket of major peers as an agreement to start de- escalating the conflict in Ukraine sent stocks higher and pushed Treasuries down the most in a month.
U.S. stocks rose, sending the Standard & Poor’s 500 Index to its best week since July, as earnings from General Electric Co. and Morgan Stanley beat estimates and concern eased that the Ukraine crisis may worsen.
Russian stocks trading in New York sank for a fourth day as concern mounted that President Vladimir Putin faces stiffer international sanctions after his special forces were spotted in eastern Ukraine.
The Standard & Poor’s 500 Index rose, giving it the best three-day rally in two months, while Treasuries fell as Yahoo! Inc. jumped on earnings and U.S. industrial production increased. The pound strengthened and copper advanced.