Stocks, Commodities Rise on Irish Rescue Talks, Economic Data

Stocks surged and commodities snapped a two-day retreat as Ireland moved closer to a European Union-led financial bailout and data on jobless claims and manufacturing bolstered optimism in the U.S. economy. General Motors Co. rallied as it returned to the stock market.

The MSCI World Index gained 1.6 percent and the Standard & Poor’s 500 Index jumped 1.5 percent, the biggest advances for both in two weeks. The euro climbed 0.8 percent against the dollar. Costs to insure Ireland’s bonds from default sank. Ten-year Treasury yields increased two basis points to 2.90 percent. Silver rose 5.2 percent and oil added 1.8 percent. After the U.S. close, S&P 500 futures added 0.1 percent at 7 p.m. in New York while Japanese and Australian stocks rallied in early trading.