Stocks, Commodities, Euro Advance Before Greek Debt Swap
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Stocks rose, sending the Standard & Poor’s 500 Index to its biggest back-to-back rally of the year, while commodities gained and the euro strengthened as Greece moved closer to completing its debt restructuring.
The S&P 500 advanced 1 percent to close at 1,365.91, with the two-day advance erasing its 1.5 percent drop on March 6. The Dow Jones Industrial Average increased 70.61 points to 12,907.94. The euro appreciated 0.9 percent to $1.3271, while the yen weakened against all 16 most-traded peers. Yields on 10-year U.S. Treasury notes increased four basis points to 2.02 percent. The S&P GSCI Index climbed 0.8 percent as 17 of its 24 commodities advanced.