U.S.
stocks rose amid a spate of corporate results from Coca-Cola Co. to
McDonald’s Corp. Energy shares gained after oil erased losses on
inventory data, while Treasuries slid on speculation interest rates will
climb this year.
The
Standard & Poor’s 500 Index climbed 0.3 percent at 12:47 p.m. in
New York. Visa Inc. surged the most since October after China indicated
the company could enter the market. Japan’s Nikkei 225 Index closed
above 20,000 for the first time since 2000. Ten-year Treasury rates
climbed six basis points to 1.97 percent. The yield on five-year Greek
notes slumped 189 basis points to 18.94 percent. Oil added 0.2 percent
to $56.74 a barrel.
Investors
assessing the strength of corporate America have seen 80 percent of the
S&P 500 that have reported beat profit projections, while only 48
percent have topped sales estimates. Data showing a better-than-forecast
rise in existing home sales boosted speculation the Federal Reserve
will raise borrowing costs this year. Greece won access to emergency
funding for its banks.
Source : Bloomberg
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