Economics
Dow Climbs Most in Five Weeks as Treasuries Drop: Markets Wrap
- Government 10-year bond yields climb from the U.S. to Germany
- More than 80% of S&P members reporting profit beat estimates
Wells Fargo's Wren Sees Too Much Hope in Markets
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The Dow Jones Industrial Average posted its biggest gain in five weeks and the three major U.S. equity benchmarks closed at records as corporate earnings beat estimates.
Stocks were bolstered by IBM’s forecast for its first sales growth in five years, which sent its shares to their biggest advance since 2009, and better-than-expected results at Abbott Laboratories and Northern Trust Corp. A gauge of commodities declined as copper and gold slipped. Treasury yields increased after traders added to bets on steeper U.S. interest rates.