Stocks Rise With Treasuries, Oil; Gold Dips Below $1,200

U.S. stocks and commodities rallied amid better-than-estimated economic data and assurances from Federal Reserve officials that the central bank will continue to spur growth if needed. Italian and Spanish bonds rose as European finance chiefs agreed on how to handle failing banks.

The Standard & Poor’s 500 Index climbed 0.6 percent to 1,613.2 at 4 p.m. in New York and the Stoxx Europe 600 Index jumped 0.7 percent. The S&P GSCI gauge of 24 raw materials added 0.8 percent as oil surged 1.6 percent, while gold dipped to a 34-month low below $1,200 an ounce. Ten-year Treasury yields lost six basis points to 2.47 percent and the rate on Italy’s bonds dropped 14 basis points to 4.57 percent. The yen lost 0.6 percent to 98.33 per dollar and China’s seven-day repurchase rate fell for a fifth day.