Oil Jump Boosts U.S. Stocks to Offset Biotech; Yen Rally Stalls
- Crude posts best day in two months ahead of freeze talks
- Yen little changed versus U.S. dollar after five-day advance
Yen, Monetary Policy, and the Limits of Central Banks
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U.S. stocks rose, while oil climbed the most in two months, on the final day of a week in which global growth concerns resurfaced and currency volatility jumped.
The Standard & Poor’s 500 Index ended higher after erasing almost all of an advance in afternoon trading as biotechnology companies and retailers weighed on the measure. Energy shares jumped as oil topped $39 a barrel ahead of a meeting between suppliers to discuss freezing production. The yen and gold were little changed as the demand for haven assets eased. Canada’s dollar surged after employers added more jobs in March than economists forecast.