U.S. Stocks Rise as Central Banks Roil Currencies: Markets Wrap
- Shared currency erases gain as officials give dovish hints
- Technology shares rebound after selloff, oil advances
Oppenheimer's Wald Sees Signs the Bullish Cycle Is Intact
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Central banks set the tone on global financial markets Wednesday, with the latest comments from policy officials sparking a risk-on mood that sent U.S. stocks to the biggest gain in two months and roiled currencies from the pound to the loonie.
The S&P 500 Index rebounded from the biggest selloff in six weeks, with bank shares rising to March highs Treasury 10-year note yields climbed above 2.21 percent. Technology firms snapped back to halt a selloff that dented confidence in the year’s biggest gainers. Small caps led the way with a rally that topped 1.5 percent and took the Russell 2000 Index within a point of an all-time high.