Economics
S&P 500 Extends Record as Facebook Jumps; Treasuries Drop
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The Standard & Poor’s 500 Index extended a record as a rally in Facebook Inc. and growth in global manufacturing overshadowed a drop in home sales. Treasuries fell as jobless claims declined, while copper rose.
The Standard & Poor’s 500 Index rose 0.1 percent at 4 p.m. in New York, after closing at a record yesterday. Equities pared gains after Portugal’s Espirito Santo Financial Group SA sought protection from creditors. The yield on 10-year Treasuries climbed for a second day, increasing 3 basis points to 2.50 percent. The Hang Seng Index jumped 0.7 percent to the highest close since April 2011 and copper rallied 1.9 percent. Gold fell