Stocks Rise, Erasing S&P 500’s Decline for 2011; Treasuries Drop
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U.S. stocks rose, erasing the 2011 decline for the Standard & Poor’s 500 Index, amid further signs of strength in the world’s largest economy. Treasuries declined while commodities advanced.
The S&P 500 added 0.9 percent to 1,265.33 at 4 p.m. New York time. The Dow Jones Industrial Average jumped 1 percent to 12,294, the highest level since July 27. The MSCI All-Country World Index advanced 0.8 percent, rising for a fourth straight day. Copper rallied 1.6 percent and crude oil briefly topped $100 a barrel. Yields on 30-year Treasuries climbed eight basis points and increased the most in a week since October.