U.S.
stocks rose, with the Dow Jones Industrial Average trading above 18,000
for the first time, as a surge in economic growth overshadowed a drop
in health-care shares. Treasuries fell, while the dollar climbed with
oil.
The
Standard & Poor™s 500 advanced 0.2 percent to a record at 12:11 p.m
in New York, while the Dow average added 76.17 points to 18,035.61. The
Nasdaq 100 Index retreated 0.3 percent as biotechnology shares in the
gauge plunged a second day. The Stoxx Europe 600 Index increased 0.6
percent for its sixth gain in the longest winning streak since April.
The yield on 10-year Treasury notes rose five basis points to 2.20
percent. The Bloomberg Dollar Spot Index touched a five-year high as oil
appreciated.
The
world™s largest economy surged by 5 percent in the third quarter,
expanding at the fastest pace since the same period of 2003, as U.S.
consumers and businesses spent more than previously estimated. The
S&P 500 soared 5.4 percent over the previous four days after the
Federal Reserve™s pledge to be patient on the timing of interest-rate
increases helped stocks recover from a plunge earlier this month.
Source : Bloomberg
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