U.S., Europe Stocks Gain as Dollar Climbs; Bonds Fall
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U.S. stocks rebounded as new-home sales surged and health-care shares erased yesterday’s losses. European equities rose on central bank stimulus bets, while Treasuries fell and the dollar strengthened.
The Standard & Poor’s 500 Index climbed 0.8 percent at 4 p.m. in New York, halting a three-day drop. The Stoxx Europe 600 Index increased 0.7 percent. Both gauges closed yesterday at the lowest levels of the month. The yield on 10-year Treasuries rose 4 basis points to 2.57 percent after a notes sale drew lower-than-average demand. The euro fell below $1.28 for the first time in 14 months. Oil jumped 1.4 percent. The Shanghai Composite Index climbed to the highest since March 2013.