Stocks, Euro Rise, Treasuries Fall on Debt Plan, U.S. Confidence
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Stocks climbed, sending the Standard & Poor’s 500 Index up for the week, Treasuries fell and the euro rose as Europe set plans to boost its rescue fund and U.S. consumer confidence beat forecasts.
The S&P 500 climbed 1.7 percent to close at 1,255.19 at 4 p.m. in New York, leaving it up 0.9 percent for the week. The Stoxx Europe 600 Index added 1.2 percent and the euro increased 0.3 percent to $1.3375. Ten-year Treasury yields rose nine basis points to 2.07 percent. The 10-year Italian bond yield fell 10 basis points to 6.36 percent, reversing a 23-point increase. The S&P GSCI Index of commodities added 0.2 percent, reversing earlier losses, as lead, silver and copper rallied.