Dow Average Tops 18,000 on U.S. Economy as Bonds Retreat

U.S. stocks rose, with the Dow Jones Industrial Average rallying past 18,000 for the first time, after data showed the world’s largest economy grew at the fastest pace since 2003 last quarter. Treasuries declined with gold, while the dollar and crude oil advanced.

The Dow gained 64.73 points to 18,024.17 by 4 p.m. in New York as the Standard & Poor’s 500 Index climbed 0.2 percent to a record 2,082.17. A plunge in biotechnology shares sent the Nasdaq 100 Index down 0.3 percent. The Stoxx Europe 600 Index rose a sixth day, its longest rising stretch since April. Yields on 10-year Treasuries climbed 11 basis points to 2.27 percent and gold futures lost 0.2 percent. The Bloomberg Dollar Spot Index jumped to a five-year high as U.S. oil surged 3.4 percent.