Stocks Jump With Commodities on Economy Data as Yen Falls

Stocks rose for a third day and commodities rallied as a jump in U.S. housing starts and drop in jobless claims fueled optimism in the world’s largest economy. The yen slid to the lowest since 2010 versus the dollar.

The Standard & Poor’s 500 Index gained 0.7 percent to 1,482.96 at 4 p.m. in New York, capping the longest rally in a month. Oil surged 1.3 percent to a four-month high of $95.49 a barrel to pace gains in commodities. The yen slid as much as 1.9 percent as Japan’s economy minister said the currency has more room to decline. The euro strengthened against all 16 major peers while the Swiss franc slid to the weakest level since the central bank introduced a currency cap in 2011. Yields on 10-year Treasuries rose five basis points to 1.87 percent.