U.S.
stocks rose, sending the Standard & Poors 500 Index to its best
two-day gain in three years, as global equities rallied on the Federal
Reserves pledge to be patient on boosting rates.
The
S&P 500 added 2.4 percent to 2,061.14 at 4 p.m. in New York, its
largest one-day gain since January 2013. The index has climbed 4.5
percent over two days, the most since November 2011.
The
MSCI All-Country World Index soared 2 percent and emerging-market
stocks surged 1.8 percent. The Stoxx Europe 600 Index advanced 3
percent, the most in three years. Treasuries sank the most in 17 months.
Oil slumped 3.2 percent after wiping out a 4 percent rally.
The
Chicago Board Options Exchange Volatility Index lost 13 percent to
16.95. The VIX has plunged 28 percent over two days. The index climbed
to a two-month high on Dec. 16.
U.S.
stocks are rebounding from a seven-day decline that erased $1 trillion
from equity prices and coincided with a 15 percent drop in West Texas
Intermediate crude between Dec. 5 and Dec. 16. S&P 500 energy
producers tumbled 8 percent over the stretch while chemical and mining
companies lost 7.4 percent.
Source : Bloomberg
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