S&P 500 Rises to Record While Euro Gains With Italy Bonds
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Stocks climbed, sending the Standard & Poor’s 500 Index to a record closing level, after U.S. home sales increased and investors speculated central banks will continue to stimulate the economy. The euro rose with Italian bonds as the country formed a government
The S&P 500 rose 0.7 percent to 1,593.61 as of 4 p.m. New York time, while the Stoxx Europe 600 Index climbed 0.5 percent. The euro strengthened 0.5 percent against the dollar and yields on Italian 10-year bonds fell 15 basis points to 3.91 percent. The Markit iTraxx Europe index of investment-grade company credit risk fell for a seventh straight day, the longest streak since 2009. Corn, natural gas and wheat jumped more than 3 percent to lead commodity gains.