U.S. Stocks Rise on Tech Gains; Emerging Equities Climb 11th Day

U.S. stocks rose as technology shares rallied, while developing-market equities headed for the longest streak of gains in 10 years after a surprise drop in China’s exports fueled speculation of more stimulus.

The MSCI Emerging Markets Index climbed 0.8 percent at 9:50 a.m. in New York, for an 11th day of gains. The Standard & Poor’s 500 Index gained 0.2 percent, while the Nasdaq Composite Index added 0.5 percent to top 5,000. The Bloomberg Dollar Spot Index climbed 0.1 percent, while the weak Chinese export data sent currencies of commodity-producing countries lower. The yield on 10-year Treasuries was little changed near 1.94 percent as bonds erased earlier losses. Oil extended last week’s advance.

Economists predict China will this week report its slowest growth since the global recession, while data Tuesday is forecast to show U.S. retail sales increased by the most in a year. The data would highlight the diverging fortunes of the world’s two largest economies as the Federal Reserve considers raising interest rates while Chinese state media has called for additional stimulus. JPMorgan Chase & Co., Johnson & Johnson and Intel Corp. are among S&P 500 companies reporting this week.

Source : Bloomberg

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European Stocks Rise as DAX Jumps for 11th Day; Oil Shares Fall

European stocks extended a two-month high, as the DAX Index rose for an 11th day after Germany’s jobless rate reached a record low. Energy stocks fell the most in eight weeks after OPEC decided to keep its oil-output target.

The Stoxx Europe 600 Index climbed 0.4 percent to 347.49 at the close of trading. The DAX rose 0.6 percent, for its longest rally since May 2013, as a report showed the number of people out of work in Germany fell more than analysts had forecast. The unemployment rate was 6.6 percent, matching the revised number for the previous month. That follows the Ifo institute’s Nov. 24 report showing the nation’s business confidence improved. A separate release today showed economic sentiment in the euro area unexpectedly increased in November.

Optimism that exporters will benefit from a weaker euro has helped boost German shares, with the DAX rising to its highest level since July.

Source: Bloomberg

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