U.S.
stocks extended all-time highs and European bonds gained amid
speculation the European Central Bank will buy government debt to
support growth. Natural gas led commodities lower and oil retreated.
The
Standard & Poors 500 Index rose 0.3 percent to an all-time high at 4
p.m. in New York. The Dow Jones Industrial Average climbed less than
0.1 percent to extend a record, while the Russell 2000 Index of small
companies rallied 1.2 percent to a July high. The Stoxx Europe 600 Index
closed little changed as gains by banks offset a slump in resource
producers. The yield on Spains 10-year bond fell four basis points to a
record 1.97 percent. Natural gas slid the most since February, and crude
oil fell before an OPEC meeting.
The
S&P 500 advanced 1.2 percent last week as data signaled the U.S.
economy is improving, ECB President Mario Draghi pledged to raise
inflation as fast as possible and China unexpectedly cut interest rates.
A gauge of German business confidence unexpectedly rose for the first
time in seven months, a report showed today. Preliminary data from
Markit Economics showed the U.S. services industries expanded at a
slower pace than estimated this month. OPEC meets this week to determine
production levels.
Source: Bloomberg
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