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U.S. Stocks Rally From 2-Month Low as Treasuries Retreat

U.S. stocks rose, pushing benchmark indexes up from two-month lows, while Treasuries and gold fell as consumer spending climbed and corporate earnings beat estimates. The iShares MSCI emerging-markets exchange-traded fund rose and the dollar gained a fifth day versus the euro.

The Standard & Poor’s 500 Index jumped 1.1 percent to 1,794.19 by 4:32 p.m. in New York, the biggest gain in a month. The emerging-markets ETF climbed 0.9 percent and European stocks rallied. Ten-year Treasury yields rose two basis points to 2.69 percent. The dollar strengthened 0.8 percent against the euro, while Hungary’s forint retreated. Gold and natural gas slumped more than 1.4 percent while aluminum dropped to a four-year low and West Texas Intermediate oil advanced.