Producers of metals and other raw materials rallied as traders bet that central-bank actions would stave off a global recession.
Olli Rehn, a European Central Bank official, pledged that the central bank will act aggressively at its next policy meeting during an interview Wednesday.
The Federal Reserve's options may be limited by stronger-than-expected U.S. data, according to one brokerage. "U.S. data are strong, but the trade war got worse...What's a Fed to do?" said strategists at Swiss bank UBS, in a note to clients.
Gold futures, which fare better during times of declining interest rates, pulled back from a six-year high, but logged their third weekly gain in a row.
Bayer shares rose after analysts at brokerage Bank of America Merrill Lynch said the German chemicals and drug giant would likely settle Roundup weed-killer lawsuits for less money than was currently priced into the market.
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