S&P 500 Touches Record as Commodities Rise, Ukraine Stocks Surge

U.S. equities rallied, with the Standard & Poor’s 500 Index touching an intraday record and all but erasing its 2014 decline, amid confidence the economy is strong enough to weather cuts to monetary stimulus. Commodities gained while Ukrainian shares jumped the most since 2010.

The S&P 500 advanced 0.6 percent to 1,847.61, less than one point shy of the record close reached Jan. 15 after paring gains of as much as 1.2 percent. The Ukrainian Equities Index jumped 15 percent on speculation the nation will get international aid after the president was ousted. Ten-year Treasury yields rose one basis point to 2.75 percent by 4:25 p.m. in New York. Coffee, sugar, silver and oil led commodities higher. The shekel weakened after the Bank of Israel cut interest rates.