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.
