Pursuits
Stocks, Commodities Rally on U.S. Job Growth; Euro Strengthens
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Stocks rallied, sending U.S. benchmark indexes to two-month highs, and commodities rose as data on jobs and retail sales bolstered optimism in the economy. The euro climbed versus the dollar after the European Central Bank signaled more interest-rate increases.
The Standard & Poor’s 500 Index gained 1.1 percent to 1,353.22 at 4 p.m. in New York, its highest close since May 10. The S&P GSCI index of commodities surged 2.6 percent as oil rose above $98 a barrel. The euro added 0.2 percent to $1.4354, reversing a drop of as much as 0.7 percent and rebounding from two days of losses. Ten-year Treasury notes snapped a two-day gain, sending yields up four basis points to 3.15 percent.