Economics
U.S. Shares Climb While Treasuries Advance, Dollar Falls
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U.S. stocks rose on optimism the economy is recovering from a first-quarter contraction, while Treasuries advanced and the dollar fell. European shares tumbled as crises deepened in the Middle East and Ukraine.
The Standard & Poor’s 500 Index rose 0.5 percent at 4 p.m. in New York, rebounding after a 0.6 percent drop yesterday. The 10-year Treasury yield decreased two basis points to 2.56 percent. The Stoxx Europe 600 Index slumped 1.1 percent, the most since April, and the rate on gilts slid nine basis points to 2.65 percent. The Bloomberg Dollar Spot Index dropped 0.2 percent. West Texas Intermediate crude climbed 0.4 percent as the U.S. opened the door to more oil exports.