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S&P 500 Gains as European Yields Fall While Gold Rebounds
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The Standard & Poor’s 500 Index closed above 2,000 for the first time as data on durable goods and consumer confidence boosted optimism in the economy’s strength. European bond yields dropped to records for a second day, while gold and oil rose.
The S&P 500 rose 0.1 percent to 2,000.02 and the Dow Jones Industrial Average jumped 0.2 percent to 17,106.70 at 4 p.m. in New York. Both indexes pared gains after reaching intraday highs. Italy’s 10-year yield slid 7 basis points to 2.41 percent, and Spain’s rate dropped to 2.17 percent. The Stoxx Europe 600 Index added 0.7 percent, and the MSCI Emerging Markets Index increased to the highest since 2011. The euro fell to its lowest in almost a year versus the dollar. Gold rebounded