Stocks Gain on Earnings, Economy as Euro Rises After Auctions
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U.S. stocks rose for a third day as Bank of America Corp. posted a profit and jobless claims slid, while European equities and the euro climbed as French and Spanish borrowing costs decreased at auctions.
The Standard & Poor’s 500 Index added 0.5 percent to 1,314.5 at 4 p.m. in New York, its highest closing level since July 26, and the Nasdaq-100 Index reached an almost 11-year high. The Dow Jones Industrial Average increased 45.03 points, or 0.4 percent, to 12,623.98. The euro strengthened 0.8 percent to $1.2967, a two-week high. Treasuries fell, sending the 10-year note’s yield up eight basis points to 1.98 percent. Oil slipped, while nickel and lead rose more than 2 percent.