US equities rally on ECB rethink

Riskier assets from stocks to commodities and emerging-market currencies surged as traders warmed to an unprecedented policy boost from the European Central Bank.

The Standard & Poor's 500 Index capped a fourth weekly gain and closed at the highest level of the year. European equities rallied, while developing-nation shares erased losses for 2016. Credit markets jumped and oil led commodities to a three-month high, while Treasuries fell for a third week on speculation US rates will rise this year.

Bloomberg