Economics
U.S. Stocks Gain on Jobs Data While Treasuries, Euro Fall
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U.S. stocks rose for a third day as faster-than-forecast growth in jobs overshadowed concern about budget negotiations and a slide in Apple Inc. Treasuries dropped, while the euro fell on concern about German growth.
The Standard & Poor’s 500 Index climbed 0.3 percent to close at 1,418.07 at 4 p.m. in New York, its highest level since the Nov. 6 elections. The yield on 10-year Treasuries increased four basis points to 1.63 percent. The euro slid 0.3 percent to $1.2926 after the Bundesbank lowered its 2013 projection for German economic growth to 0.4 percent from the 1.6 percent predicted in June. Oil lost 0.5 percent to $85.93 a barrel in a fourth straight decline.