U.S. Stocks Rise, Oil Posts Best Gain of Year on Economy

U.S. stocks and commodities climbed, with oil posting its biggest gain of the year, after bigger-than-forecast increases in American durable-goods orders and home prices bolstered optimism in the world’s largest economy. Treasuries erased earlier losses.

The Standard & Poor’s 500 Index advanced 0.8 percent to 1,563.77 at 4 p.m. in New York, closing within two points of its 2007 record, while Mexico’s IPC Index jumped 1.8 percent for its best gain since January 2012. Oil rallied 1.6 percent, while natural gas led the S&P GSCI Index of commodities higher on forecasts for cold U.S. weather. Ten-year Treasury yields decreased one basis point to 1.91 percent after rising two points earlier. The euro was little changed versus the dollar while the yen weakened against all 16 major peers.