Fidelity Investments, the second- largest mutual fund company, is exploring the creation of a U.S. stock trading venue along with other investors to address perceived flaws in the $23 trillion U.S. equity market.
The Standard & Poor’s 500 Index climbed to a record as consumer and technology shares rallied while Treasuries fell after manufacturing data boosted optimism in the economy. Emerging-market stocks rose and oil tumbled.
U.S. stocks rose, as consumer and technology shares pushed the Standard & Poor’s 500 Index to an all-time high, after an increase in a manufacturing index boosted optimism the economy withstood severe winter weather.
Emerging-market stocks rose for a second day after an unexpected slowdown in Chinese manufacturing bolstered speculation the government will take steps to support economic growth. India’s S&P BSE Sensex surged to a record.
Treasuries climbed with gold while U.S. stocks erased losses as investors weighed developments in Ukraine while concern intensified that slowing growth in China will hurt demand. Oil retreated on rising U.S. supplies.
Emerging-market stocks declined for a second day after a report showing the biggest plunge in Chinese exports since 2009 spurred concern the global economy will falter. Brazil’s Ibovespa approached a bear market.