U.S. Stocks Rise on Jobs Data as Treasuries Erase Losses
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U.S. stocks gained as reports on American jobs and housing beat projections, while Treasuries erased losses after an auction of seven-year notes. Oil rallied for a sixth straight day, and copper declined.
The Standard & Poor’s 500 Index rose 0.4 percent to 1,363.46 at 4 p.m. New York time. The Dow Jones Industrial Average rallied 0.4 percent to 12,984.69, the highest level since May 2008. Yields on 10-year U.S. Treasuries dropped one basis point to 2 percent. Crude added 1.5 percent, copper fell 0.7 percent and gold rallied 0.8 percent.