U.S. Stocks Gain as Euro Strengthens on Greece Rescue Optimism
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U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level since May 2008, while Treasuries fell and the euro strengthened as Greece’s government made progress on measures to secure international aid. Crude oil led gains in commodities.
The Dow increased 33.07 points, or 0.3 percent, to close at 12,878.2 at 4 p.m. in New York and the Standard & Poor’s 500 Index increased 0.2 percent after slipping as much as 0.6 percent earlier. Ten-year Treasury yields increased seven basis points to 1.98 percent and the euro advanced 0.9 percent to $1.3248, its strongest level in almost two months. Oil rallied 1.5 percent, the most in three weeks, to $98.41 a barrel.