Crude Tumbles as U.S. Supply Surges Amid Output, Import Gains

Oil tumbled after U.S. crude inventories climbed to the highest level for this time of year since 1930. Crude supplies rose to 490.7 million barrels, leaving stockpiles more than 120 million barrels above the five-year seasonal average, government data showed. The discount of crude in New York to global marker Brent earlier dropped to an 11-month low amid expectations that a 40-year-old ban on most American crude exports will be lifted....

Gold, Metals Gain After Policy Makers Raise U.S. Interest Rates

Gold maintained gains after the Federal Reserve boosted U.S. interest rates for the first time since 2006 while signaling that the pace of subsequent increases will be “gradual.” Silver and copper also held on to earlier increases. The Federal Open Market Committee unanimously voted to set the new target range for the federal funds rate at 0.25 percent to 0.5 percent, up from zero to 0.25 percent. Most metals are headed for an annual...

U.S. Stocks Rally Amid First Fed Interest-Rate Boost Since 2006

U.S. stocks rallied as the Federal Reserve ended seven years of near-zero interest rates, and assured investors that the world’s largest economy is resilient enough to withstand future increases in borrowing costs at a gradual pace. Equities extended gains following the central bank’s move, pushing the Standard & Poor’s 500 Index’s biggest three-day rally since Oct. 5 as the benchmark rebounded from its worst weekly drop since August....

European Stocks Rise, Paring Gains in Countdown to Fed Decision

Investors pushed European stocks higher for a second day before the Federal Reserve’s much-awaited interest-rate decision, though equities pared gains in the last hour of trading. The Stoxx Europe 600 Index climbed 0.2 percent at the close of trading in London, trimming an advance of as much as 1 percent. Anglo American Plc led an advance in miners, up for the first time in 12 days. Energy producers, leading the rally earlier, ended...

U.S. Stocks Edge Higher for Third Day Before Fed Rate Decision

U.S. stocks climbed for a third day as investors await what is widely expected to be the first Federal Reserve interest-rate increase in almost a decade. Leadership shifted Wednesday as crude oil retreated and energy slumped after two sessions out in front. Industrials paced early gains, with Honeywell International Inc. up 4.5 percent after its 2016 earnings forecast beat some analysts’ estimates. Homebuilders rose after housing starts...