U.S. Stocks Rise With Dollar, Bonds Drop on Growth Bets

U.S. stocks surged, the dollar rose and Treasuries fell amid better-than-forecast corporate earnings and data signaling stronger economies from China to Europe. Copper and oil advanced.

The Standard & Poor’s 500 Index increased 1.2 percent at 4 p.m. in New York, bringing its rally from an Oct. 15 low to 4.7 percent. The Dow Jones Industrial Average rallied 1.3 percent to erase its loss for 2014 as Caterpillar Inc. jumped 5 percent after earnings beat analysts’ projections. Ten-year Treasury yields rose six basis points to 2.27 percent. Japan’s currency slid against the dollar for a sixth day. Copper climbed 0.7 percent. Crude rebounded from a two-year low after a person with knowledge of Saudi Arabia’s oil policy said the kingdom cut supply in September.