U.S.
stocks rose, with benchmark indexes erasing losses for the year, as
Pfizer Inc. announced a $17 billion deal and energy producers climbed
with crude. Treasuries fell, while the euro strengthened as investors
assessed negotiations on Greece™s bailout.
The
Standard & Poor™s 500 Index added 1 percent at 4 p.m. in New York,
capping a recovery from a 3.1 percent slide in January. The yield on
10-year Treasuries advanced six basis points to 1.81 percent. Greek
10-year yields were little changed at 9.69 percent after erasing an
earlier surge. The euro strengthened 1.2 percent to $1.1484. West Texas
Intermediate crude rose 4.2 percent to settle at $50.48 a barrel.
Natural gas futures slid to a 31-month low in New York.
Applications
for U.S. unemployment benefits hovered around levels that are typically
associated with an improving job market, data showed a day before the
government releases its monthly labor report. Pfizer agreed to buy
Hospira Inc., the biggest provider of injectable drugs and infusion
technology. The first direct talks between Greece and Germany since a
new anti-bailout government took power in Athens last week yielded no
agreement on how to narrow their differences.
Source : Bloomberg
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