Stocks, Commodities Gain on Earnings, Economy; Euro Rallies

Stocks and commodities rallied on improving profit forecasts at companies from United Parcel Service Inc. to AT&T Inc. and accelerating growth in European manufacturing and services industries. The euro strengthened, Treasuries retreated and oil reached an 11-week high.

The Standard & Poor’s 500 Index jumped 2.3 percent to 1,093.67 at 4 p.m. in New York after surging as much as 2.6 percent. The Stoxx Europe 600 Index climbed 2.1 percent. Both gauges had their biggest gain in two weeks. Oil topped $79 a barrel and copper rose for a fourth day to send an index of commodities up 2 percent, the most since March. The euro surged more than 1 percent versus the dollar and yen.