Stocks Gain as Treasuries Fall on Fed’s Economic Outlook

U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level since 2007, and Treasuries fell after the Federal Reserve raised its assessment of the economy and JPMorgan Chase & Co. increased its dividend.

The Standard & Poor’s 500 Index added 1.8 percent to 1,395.95 at 4 p.m. New York time and the Dow climbed 217.97 points to 13,177.68. The Chicago Board Options Exchange Volatility Index dropped to 13.99, the lowest intraday level since 2007. Yields on 10-year Treasuries advanced a fifth day, reaching 2.13 percent. S&P 500 futures rose 0.1 percent at 4:53 p.m. while Citigroup retreated 3 percent after the Fed said it failed a stress test.