Stocks, Euro Extend Gains as Germany, France Support Greece
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Stocks rallied, sending the Standard & Poor’s 500 Index higher for a third day, and the euro extended gains as German and French leaders expressed support for Greece to remain in the euro monetary union and speculation grew that China may help Europe’s most-indebted nations.
The S&P 500 gained 1.4 percent to close at 1,188.68, while its December futures slid less than 0.1 percent as of 7:21 p.m. in New York. The Stoxx Europe 600 Index added 1.5 percent. The euro rose 0.6 percent to $1.3755. Ten-year Treasury yields fell one basis point to 1.98 percent. Oil futures fell 1.4 percent to $88.91 a barrel after an increase in fuel inventories and crude helped lead the S&P GSCI Index of commodities down 0.6 percent.