U.S. Stocks Rebound as Metals Rise; Brent Falls, Treasuries Gain ~ Bloomberg

6:38 AM | December 22, 2015 BERITA No Comments
  • U.S. stocks recovered from a two-day slump, as China’s signal that it may add to stimulus boosted metals prices from copper to gold. Brent crude slipped to an 11-year low on signs the global glut will persist, while Treasuries advanced.

 

  • The Standard & Poor’s 500 Index rebounded from a 3.3 percent rout since the Federal Reserve raised rates, with most of the advance coming in the final half hour of trading. Ten-year Treasury notes erased losses for December, while the dollar slipped. Brent futures in London fell to the weakest intraday level since July 2004, with drilling in the U.S. increasing. Emerging-market equities headed for the fourth gain in five days.

 

  • The S&P 500 rose 0.8 percent at 4 p.m. in New York. The index has fallen 2.9 percent in December, bucking the historical seasonal trend of gains, and is on track for its biggest annual drop since the 2008 financial crisis. Telephone and technology companies led gains in the index today, rising more than 1 percent. Volume on U.S. exchanges was about 7 percent lower than the three-month average, according to data compiled by Bloomberg.

 

  • Energy companies dragged the Stoxx Europe 600 Index lower in its final hour of trading. The gauge fell 1.1 percent as oil and gas producers plunged 2.2 percent.

 

  • Spain’s equity benchmark IBEX 35 Index fell 3.6 percent, for the worst performance among western-European markets after elections weakened the party of Prime Minister Mariano Rajoy. Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA weighed heaviest, falling more than 3.8 percent.

 

  • Japan’s Topix index slid 0.4 percent, with Toshiba Corp. leading declines after reports it would post a record 500 billion yen ($4.1 billion) loss in the current fiscal year. After the stock market shut, the company forecast a record full-year loss of 550 billion yen.