Stocks Rally With Commodities as Treasuries Retreat
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Stocks rose, sending U.S. and European benchmark indexes to two-month highs, and commodities rallied as American factory orders topped estimates and speculation grew central banks will act to spur growth.
The Standard & Poor’s 500 Index advanced 0.6 percent to close at 1,374.02 while the Stoxx Europe 600 Index added 1 percent, with both above their highest closes since the first week of May. Oil jumped 4.7 percent and corn climbed for a third day as 22 of 24 commodities tracked by the S&P GSCI Index advanced. The yen fell against 15 of its 16 major peers, while 10-year U.S. Treasury notes retreated.