Economics
Stocks Gain While Dollar, Treasuries Retreat on Manufacturing
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Stocks rose, halting a four-day drop in U.S. benchmark indexes, while the dollar fell and Treasuries snapped a five-day advance on signs global manufacturing is strengthening. Hogs led commodity gains, while natural gas slid.
The Standard & Poor’s 500 Index added 0.9 percent to close at 1,324.09 at 4 p.m. in New York and the Dow Jones Industrial Average climbed 83.55 points to 12,716.46, trimming an earlier 152-point rally that sent it above its highest close since May. Ten-year Treasury yields increased three basis points to 1.83 percent, while the Dollar Index fell 0.5 percent, amid lower demand for safer assets. The euro rallied 0.5 percent to $1.3155, nearing its highest level of 2012.