U.S. Stocks Rise, Treasuries Fall as Oil Slides to Two-Month Low

By Inyoung Hwang, Sarah Pringle and Moming Zhou

March 4, 2013 at 9:53 PM UTC

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U.S. stocks rose, with the Dow Jones Industrial Average closing within 40 points of a record, amid optimism the Federal Reserve will continue to provide monetary stimulus. Commodities dropped on concern changes in China’s policies may slow growth and hurt the global recovery.

The Dow rose 38.16 points to 14,127.82 while the Standard & Poor’s 500 Index advanced 0.5 percent to 1,525.20 after retreating 0.4 percent earlier. The S&P GSCI Index of commodities fell for a fifth day, the longest slump of the year, as oil dipped below $90 a barrel for the first time this year. Japan’s five-year rate slid two basis points to a record 0.095 percent. Italy’s 10-year yield rose amid concern the country may need to hold another election. U.S. Treasuries fell.