Dow Tops 11,000, Treasuries Rise on Fed Easing Bets; Crops Jump

Stocks rallied, sending the Dow Jones Industrial Average above 11,000 for the first time since before the May 6 crash, while shorter-term Treasuries rose and the dollar slipped as a decrease in U.S. jobs fueled speculation the Federal Reserve will buy debt to stimulate the economy. Corn, soybeans and wheat surged on concern that supply is dwindling.

The Standard & Poor’s 500 Index climbed 0.6 percent to 1,165.15 at 4 p.m. in New York, and the Dow jumped 57.9 points to 11,006.48. The dollar slid as much as 0.8 percent to 81.73 yen, a 15-year low, and yields on two- and five-year Treasuries sank to record lows. Corn, soybean and wheat surged by the maximum permitted on the Chicago Board of Trade after the U.S. Department of Agriculture reduced its supply estimates.