Stocks Extend Rally With Metals on Central Bank Pledges

Stocks rallied and industrial metals rose as global reports showed growth in manufacturing and central banks pledged to continue stimulus efforts. The dollar gained against all 16 of its major peers and Treasuries slumped.

The Standard & Poor’s 500 Index jumped 1.3 percent to 1,706.87 at 4 p.m. in New York, topping 1,700 for the first time. The MSCI All-Country World Index increased 1 percent, after advancing 4.7 percent in July. The yield on 30-year Treasuries jumped to the highest in two years. Copper added 1.5 percent and oil rose 2.7 percent to $107.89 a barrel. The dollar gained 1.6 percent against the yen, while the euro weakened.