U.S. Stocks Rally With Commodities, Treasuries on Jobs

U.S. stocks capped the best two-day rally since October and Treasuries rose as the unemployment rate slid to the lowest since 2008, fueling speculation the economy can weather reductions in monetary stimulus. Crude, gasoline and heating oil led commodity gains.

The Standard & Poor’s 500 Index added 1.3 percent at 4 p.m. in New York, extending its two-day gain to 2.6 percent and sending it higher for the week. The Stoxx Europe 600 Index climbed 0.7 percent. Ten-year Treasury yields dropped two basis points to 2.68 percent, while German yields fell three basis points and Spanish rates slid to an almost eight-year low. The dollar weakened against 13 of 16 major peers. The Turkish lira erased an advance after S&P lowered its outlook on the country. Oil climbed above $100 a barrel for the first time this year.