Stocks rose, sending the Dow Jones Industrial Average to a record, and Treasuries climbed as Federal Reserve officials said weakness in the U.S. economy warranted continued stimulus. Oil led commodities up from a four-month low while the yen and dollar weakened.
The Dow advanced 128.66 points, or 0.8 percent, to 15,746.88 by 4:15 p.m. in New York. The Standard & Poor’s 500 Index added 0.4 percent after earlier touching a record closing high. Ten-year Treasury yields fell three basis points to 2.64 percent. The dollar declined against 12 of 16 major peers while the yen weakened against all 16. The S&P GSCI gauge of 24 commodities rallied 0.5 percent as New York-traded oil rose the most in five weeks on an increase in U.S. gasoline demand.