Economics
Dow Average Tops 17,000, Treasuries Sink After Jobs Data
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Declining unemployment and a pledge that European interest rates will stay low jolted the Dow Jones Industrial Average above 17,000 for the first time, lifted the dollar and sent bonds lower.
The Standard & Poor’s 500 Index added 0.6 percent to extend an all-time high, while the Dow average climbed 0.5 percent to 17,068.26. The Stoxx Europe 600 Index added 0.9 percent, capping the biggest three-day rally in 10 weeks. The Bloomberg Dollar Spot Index rose 0.2 percent and the yield on 10-year Treasuries increased one basis point to 2.64 percent at 2:10 p.m. in New York. Gold fell the most since May and corn entered a bear market.