Stocks, Treasuries Rise on Fed as S&P 500 Tops 1,800

U.S. stocks and Treasuries rose, as improving economic data offset concerns that the Federal Reserve will cut monetary stimulus as soon as next month. The euro strengthened after German business confidence climbed to the highest in more than 1 1/2 years.

The Standard & Poor’s 500 Index advanced 0.5 percent to a record 1,804.76 at 4 p.m. in New York, capping its seventh straight weekly gain and leaving it poised for the best annual gain since 1998. The Stoxx Europe 600 Index added 0.1 percent after earlier rising as much as 0.6 percent. The euro climbed 0.6 percent to $1.3558. The yield on 10-year Treasury notes fell 4 basis points to 2.75 percent. West Texas Intermediate oil lost 0.7 percent.