Pursuits
U.S. Stocks Rally With Gold on Slower Rate Path; Euro Pares Gain
U.S. Economic Data, the Fed and Your Portfolio
This article is for subscribers only.
Stocks rallied with gold on the outlook for a gradual increase in U.S. interest rates, while oil jumped. The euro pared gains as regional leaders called an emergency summit after Greece failed to reach a deal with creditors.
The Standard & Poor’s 500 Index climbed 1 percent by 4 p.m. in New York, closing at its highest level since May 27 and within 0.5 percent of a record. The Nasdaq Composite Index surged to an all-time high. Gold gained 2.1 percent, while U.S. crude rose 0.9 percent amid the dollar’s retreat. The Bloomberg Dollar Spot Index fell a second day as sterling soared. Ten-year Treasury yields rose two basis points to 2.34 percent.