U.S. stocks rose as energy shares rallied after crude jumped the most in two months. Gold touched a seven-week high on speculation the Federal Reserve will hold borrowing costs lower for longer.
The Standard & Poor’s 500 Index climbed 0.7 percent at 4 p.m. in New York. Energy shares in the index surged 1.8 percent. West Texas Intermediate crude jumped 6.1 percent as Saudi Arabia raised prices for shipments to Asia, its biggest regional market. The Bloomberg Dollar Spot Index rose 0.3 percent, reversing an earlier loss, while the yield on 10-year Treasury notes added seven basis points after touching a two-month low. Gold climbed 1.5 percent.
While U.S. exchanges were closed for the Good Friday holiday, futures tumbled 1 percent after the jobs report in abbreviated trading on April 3. The S&P 500 is 1.7 percent below its latest all-time high, set on March 2, after last week capping its ninth straight quarterly advance.