U.S. Stocks Advance While Bonds Fall on Meeting Minutes
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The Standard & Poor’s 500 Index rose to within two points of a record after Federal Reserve meeting minutes indicated continued stimulus amid uneven gains in the labor market. Treasuries fell while the dollar advanced on speculation rates may rise sooner than anticipated.
The S&P 500 climbed 0.3 percent at 4 p.m. in New York, capping a 4 percent rally since Aug. 7. Ten-year Treasury yields rose three basis points to 2.43 percent. The dollar strengthened to an 11-month high versus the euro. Oil climbed for the first time in three sessions while gold dropped to a two-week low.