Stocks rose, rebounding from a four- day global slump that drove valuations to the lowest level since 2009, amid speculation President Barack Obama’s plan for more than $300 billion in economic stimulus will boost growth. Treasuries, German bunds and gold fell as the dollar snapped a six-day rally.
The MSCI All-Country World Index surged 2.8 percent and the Standard & Poor’s 500 Index jumped 2.9 percent, according to preliminary closing figures at 4 p.m. in New York. The 10-year Treasury yield added six basis points to 2.04 percent after reaching a record low yesterday, and Germany’s yield climbed six basis points to 1.91 percent. The dollar weakened against the euro after legal challenges to Germany’s role in the region’s rescue funds were rejected by the nation’s top court. Gold dropped the most in two weeks and copper advanced above $9,000 a metric ton in London.
Full story: Stocks Rebound From Four-Day Drop – Bloomberg.