U.S. Stocks Climb Toward Records Amid Earnings; Treasuries Drop
Is Our Fed Fixation Out of Control?
U.S. stocks rose, sending benchmark indexes to within striking distance of records, amid results from Coca-Cola Co. to McDonald’s Corp. Energy shares gained as Brent crude oil rose, while Treasuries slid on speculation interest rates will be raised this year.
The Standard & Poor’s 500 Index climbed 0.5 percent by 4 p.m. in New York, 0.4 percent below its March record. Visa Inc. surged the most since October after China indicated the company could enter the market. The Nasdaq Composite Index added 0.4 percent to its highest level in 15 years. Japan’s Nikkei 225 Index closed above 20,000 for the first time since 2000. Ten-year Treasury yields rose seven basis points to 1.98 percent. Brent oil climbed for the first time in four days.