Economics
U.S. Stocks Rebound on GDP as Bonds Fall on Pimco Concern
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U.S. stocks rebounded from the biggest decline since July as data showed the fastest economic growth since 2011. Treasuries fell after Bill Gross departed from Pacific Investment Management Co.
The Standard & Poor’s 500 Index jumped 0.9 percent at 4 p.m. in New York, paring its weekly loss to 1.4 percent. The gauge accelerated gains today after climbing back above its average price for the past 50 days. Treasury 10-year yields rose three basis points to 2.53 percent. The Bloomberg Dollar Spot Index added 0.4 percent to extend its highest level since 2010. The Stoxx Europe 600 Index climbed 0.3 percent, reversing earlier losses.