U.S.
stocks jumped, pushing the Standard & Poor™s 500 Index to within
three points of an all-time high as online travel firms jumped with
Cisco Systems Inc. and optimism over the Ukraine cease-fire agreement
boosted risk appetite. The dollar sank while Treasuries rallied with
crude oil.
The
S&P 500 rose 1 percent to 2,088.48 by 4 p.m. in New York, close to
the 2,090.57 record reached Dec. 29. Cisco™s 9.4 percent surge on
better-than-estimated earnings helped drive the Nasdaq Composite Index
to an almost 15-year high, while Expedia Inc. and TripAdvisor Inc.
soared at least 14 percent on deal news. The Bloomberg Dollar Spot Index
slid the most since 2013 as the yen jumped, while Treasuries snapped a
five-day drop. U.S. oil rallied as more crude producers announced
cutbacks.
Technology
companies including Apple Inc. have bolstered S&P 500 gains this
year, with the benchmark U.S. gauge whipsawed by investors amid a wave
of global central bank easing and geopolitical tension. The accord to
end fighting in eastern Ukraine will come into force Feb. 15, Russian
President Vladimir Putin told reporters in Minsk, Belarus, after talks
with French, German and Ukrainian leaders. At a meeting in Brussels,
last-minute questions from Greek officials snagged progress toward an
agreement with the euro area and creditors.
Source : Bloomberg
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