Most U.S. Stocks Rise, Oil Drops Below $100; Swiss Franc Gains
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Most American stocks rose and oil retreated below $100 a barrel after the U.S., Saudi Arabia and International Energy Agency said they could offset any supply disruptions from Libya. Yields on 30-year Treasuries fell to the lowest level this month, and the Swiss franc climbed to a record against the dollar.
About four stocks gained for every three that fell on U.S. exchanges at 4 p.m. in New York. The Standard & Poor’s 500 Index lost 0.1 percent for the third straight drop. Crude futures slumped 0.8 percent to $97.28 a barrel after touching $103.41, the highest intraday price since Sept. 29, 2008. Treasury 30-year yields decreased to 4.54 percent from 4.58 percent. The franc strengthened to a record 92.34 centimes per dollar.