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Economics

Stocks Rally, Treasuries, Dollar Drop on Durable Goods Data

Stocks surged, sending benchmark U.S. indexes to the highest levels since May, while Treasuries retreated and the Dollar Index slid to an almost eight-month low as demand for American capital equipment rebounded and German business confidence improved. Silver reached a 30-year high.

The Standard & Poor’s 500 Index climbed 2.1 percent to 1,148.67 at 4 p.m. in New York, its biggest gain in three weeks. The MSCI Emerging Markets Index rallied to the highest level since July 2008. Ten-year Treasury yields rose 5 basis points to 2.61 percent. The Dollar Index, a measure against six major peers, lost 0.9 percent to 79.279 as the Swiss franc touched a record versus the U.S. currency.