Economics
U.S. Stocks Extend Records, Yen Drops on Stimulus Bets
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U.S. stocks extended all-time highs and European bonds gained amid speculation the European Central Bank will buy government debt to support growth. The yen dropped to an almost seven-year low versus the dollar.
Japan’s currency depreciated 0.4 percent to 118.27 against the dollar at 5 p.m. in New York. The Standard & Poor’s 500 Index rose 0.3 percent to an all-time high, and the Dow Jones Industrial Average climbed less than 0.1 percent to extend a record. The Russell 2000 Index of small companies rallied 1.2 percent to a July high. The yield on Spain’s 10-year bond fell four basis points to a record 1.97 percent. Natural gas slid the most since February, and crude oil fell before an OPEC meeting.