Skip to content
Subscriber Only

Dow Extends 10-Day Rally, Europe Stocks Rise to 2008 High

The Dow Jones Industrial Average extended the longest rally since 1996 as U.S. jobless claims unexpectedly dropped, while European stocks rose to an almost five-year high as policy makers gathered for a two-day summit. Treasuries pared earlier losses and commodities gained.

The Dow added 0.6 percent in its 10th straight gain and the Standard & Poor’s 500 Index rose 0.6 percent to 1,563.23, about 0.1 percent below its 2007 record, as of 4 p.m. in New York. The Stoxx Europe 600 Index jumped 1.1 percent to the highest level since June 2008. Ten-year Treasury note yields added one basis points to 2.03 percent after jumping five basis points earlier. Australia’s dollar reached a one-month high versus the dollar as payrolls grew the most in almost 13 years.