S&P 500 Rises Above Record Close, Euro Rebounds on Cyprus
This article is for subscribers only.
Stocks rallied, sending the Standard & Poor’s 500 Index to a record, and the euro rebounded from a four-month low as the reopening of Cyprus banks eased concern about Europe’s debt crisis. Commodities erased early gains. Treasuries were little changed and the dollar fell.
The S&P 500 jumped 0.4 percent to 1,569.19 at 4 p.m. in New York, eclipsing its previous closing high of 1,565.15 set in October 2007. The Stoxx Europe 600 Index climbed 0.5 percent, while the euro appreciated 0.3 percent to $1.2819. German bunds erased an advance after the 10-year yield fell to the lowest in almost eight months. The yen was higher against most of its major peers, while the Dollar Index lost 0.3 percent.