U.S. stocks dismissed the drop in oil and rallied as consumer confidence leaped and banking shares rebounded. The perceived win by Democrat Hillary Clinton in Monday’s first presidential debate gave broader support to equities.
S&P 500 added 6 percent to 2,159.93, leading its quarterly advance to 2.9 percent. Dow Jones industrial rose 0.74 percent to end at 18,228.3 points and the Nasdaq Composite added 0.92 percent to 5,305.71.
Amazon.com Inc. jumped to a record of 2.12 percent while Microsoft Corp. was up 1.9 percent to pace the rally.
The Stoxx Europe 600 Index increased less than 0.1 percent.
Oil prices dropped 3 percent as hopes for a deal to cut output faded at major producers meeting in Algeria.
Japan’s currency weakened from a one month high against all 16 of its major counterparts and Mexican peso jumped as demand for havens declined after the first presidential debate between Hillary Clinton and Donald Trump.
The yen dropped 0.5 percent to 100.86 per dollar. It earlier touched 100.09, the strongest level since Aug. 26.
Mexico’s peso surged 1.6 percent to 19.5582 per dollar, set for its best performance in more than two months, after falling to a record 19.9333.
Hillary Clinton, a former Secretary of State in Barack Obama’s administration is likely to offer more continuity with the current regime. Donald Trump, a real-estate developer and former TV personality, is a less conventional candidate and has been a vocal critic of the current president.Would you like to know more? Visit our Financial Articles page now -> Click Here