U.S. Stocks Jump as Treasuries Trim Gain After Bernanke’s Speech
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U.S. stocks surged, breaking a four-week losing streak for the Standard & Poor’s 500 Index, as Federal Reserve Chairman Ben S. Bernanke indicated the economy isn’t deteriorating enough to warrant any immediate stimulus. Treasuries trimmed gains and the dollar swung to a loss.
The S&P 500 added 1.5 percent to 1,176.80 at 4 p.m. in New York after losing as much as 2 percent. The Stoxx Europe 600 Index lost 0.7 percent, trimming its retreat from 2.7 percent. Yields on Treasury 10-year notes slipped four basis points to