Commodities Fall as Treasuries Climb; Dow Rises to Record

Silver, heating oil and gold led declines in commodities while Treasuries rose and U.S. benchmark stock indexes traded at or near all-time highs. European equities retreated from the highest level since 2008 while Italian bonds advanced as the nation sold debt.

The S&P GSCI Index of commodities fell 0.8 percent by 4:26 p.m. in New York. Ten-year Treasury yields lost three basis points to 2.97 percent, dropping from a two-year high. The Dow Jones Industrial Average rose 0.2 percent to a record while the Standard & Poor’s 500 Index closed down less than 0.1 percent at 1,841.07. The Stoxx Europe 600 Index declined 0.2 percent while Italian 10-year yields dropped 12 basis points. Japan’s Nikkei 225 Stock Average capped its biggest annual increase since 1972.