U.S. Stocks Rise Amid Earnings as Pound Jumps on Economy
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U.S. stocks rose as jobless claims fell and earnings topped forecasts, while the pound strengthened against the dollar after data showed the U.K. economy avoided a triple-dip recession. Gold rallied for a second day.
The Standard & Poor’s 500 Index added 0.4 percent, approaching its record high, at 4 p.m. in New York. The Stoxx Europe 600 Index jumped for a fifth straight day, gaining 0.8 percent. Britain’s currency appreciated 1.1 percent to $1.5431, the most since March 14, and the 10-year U.K. yield advanced four basis points to 1.73 percent. Gold led a rally in commodities, posting its biggest increase since June. Copper, silver and oil each surged more than 2 percent.