Stocks Gain With Commodities on Jobless Data; Euro Slides

Stocks rallied with commodities as U.S. jobless claims reached a five-year low, easing concern about the economy. The euro tumbled and the region’s bonds climbed as European Central Bank President Mario Draghi said policy makers have an open mind about a negative deposit rate.

The Standard & Poor’s 500 Index added 0.9 percent to 1,597.59, erasing yesterday’s decline and returning to a record, as of 4 p.m. in New York. The euro lost 0.9 percent to $1.3060 while two-year German note yields fell below zero and rates on 10-year French and Belgium debt slid to records. Oil surged the most in six months to help lead commodities higher, while natural gas sank 7 percent on bigger-than-forecast growth in inventories. Ten-year Treasury yields were little changed at less than 1.63 percent, the lowest level of the year.