Stocks Rise as Syria Concerns Ease as Treasuries Gain on Auction

U.S. stocks rose, sending the Standard & Poor’s 500 Index to a seventh straight gain, after President Barack Obama asked Congress to delay a vote authorizing a military strike against Syria. Treasuries rallied as a $21 billion auction drew the highest demand in six months.

The S&P 500 rose 0.3 percent to an almost one-month high of 1,689.13 at 4 p.m. in New York, with a plunge in Apple Inc. shares limiting its gain, while the Stoxx Europe 600 Index jumped to a five-year high. Treasury 10-year yields slid six basis points to 2.91 percent while the dollar was weaker versus the euro and yen. The British pound jumped 0.6 percent to $1.5824 as a report showed unemployment decreased. Oil rose 17 cents to $107.56 a barrel as stockpiles at Cushing, Oklahoma, decreased to the lowest level since February 2012.