Global stocks lead a rally back

The Washington Post Sunday - - BUSINESS -

The Stan­dard & Poor’s 500-stock in­dex capped its best week of 2015 with the year’s worst per­form­ers, energy pro­duc­ers and min­ers, lead­ing the way.

Global stocks have been stag­ing a come­back in the wake of their worst quar­ter since 2011 as signs of an un­even re­cov­ery in the U.S. job mar­ket andd ata sig­nal­ing slow­ing growth from China to Ger­many heighten spec­u­la­tion the Fed­eral Re­serve won’t raise in­ter­est rates un­til next year.

“None of the prob­lems from over the sum­mer can be fixed quickly,” said John Stoltz­fus, chief mar­ket strate­gist at Op­pen­heimer & Co. “The main thing is they’re be­ing ad­dressed and that’s what the mar­ket is look­ing at.”

The S&P 500 climbed 3.3 per­cent to 2,014.89 in the five days, its first clos­ing foray above the 2,000 level since an Au­gust sell­off that sent stocks into a cor­rec­tion. The Dow Jones in­dus­trial av­er­age added 612.12 points, or 3.7 per­cent, to 17,084.49.

The Chicago Board Op­tions Ex­change Volatil­ity In­dex lost 18 per­cent for the week, the most since July. The mea­sure of mar­ket tur­bu­lence known as the VIX has dropped for nine straight days, the long­est stretch in four years.

The U.S. Trea­sury is sched­uled to sell $20bil­lion in three-month bills and $20 bil­lion in six-month bills Mon­day. They yielded 0.005 and 0.085 per­cent in when-is­sued trad­ing. The gov­ern­ment will sell four-week bills and $10 bil­lion in 52-week bills Tues­day.

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