S&P 500 Tops 2,000 as Dollar, European Bonds Rise on ECB

The Standard & Poor’s 500 Index briefly topped 2,000 for the first time as stocks rallied on deals speculation and prospects for increased European stimulus. The dollar climbed to an 11-month high and German two-year note yields dropped below zero.

The S&P 500 rose 0.5 percent to 1,997.95 at 4 p.m. in New York, paring gains in the afternoon after climbing to as high as 2,001.95. The dollar appreciated 0.4 percent to $1.32 per euro, its strongest level since Sept. 9. The Stoxx Europe 600 Index added 1.1 percent to the highest since July. German two-year note yields slid to the lowest since 2012. Yields on 10-year Italian and Spanish bonds dropped to all-time lows as did Belgian two-year notes. Oil fell to a seven-month low.