U.S. Stocks Climb as Treasuries Drop While ECB Sinks Euro

U.S. stocks rose, with benchmark indexes extending record highs, while Treasuries retreated before monthly payrolls data. The euro slid to a two-year low and the dollar gained versus major peers after European Central Bank President Mario Draghi deepened his commitment to stimulus.

The Standard & Poor’s 500 Index and Dow Jones Industrial Average were both up 0.4 percent by 4 p.m. in New York at fresh all-time highs. Yields on 10-year Treasury notes rose four basis points to 2.39 percent. The euro dropped to its weakest level since August 2012 versus the greenback as the Bloomberg Dollar Spot Index climbed 0.6 percent to extend a 5 1/2-year high. Oil in the U.S. and London fell for the fifth time in six days after OPEC cut its demand outlook and Libya said it will resume pumping crude soon from its biggest field. The ruble sank.