U.S. stocks rose, with
benchmark indexes briefly erasing losses for 2015, as Pfizer Inc.
announced a $17 billion deal and energy producers climbed with crude
oil. Treasuries fell, while the euro strengthened as investors assessed
bailout negotiations among Greece and European leaders.
The Standard &
Poor™s 500 Index added 0.8 percent at 12 p.m. in New York. 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 0.8 percent to $1.1431. West Texas
Intermediate crude rose 6.7 percent to $51.67 a barrel, while natural
gas futures slid to a 29-month low in New York.
Pfizer agreed to buy
Hospira Inc., the biggest provider of injectable drugs and infusion
technology. Applications for unemployment benefits hovered around levels
that are typically associated with an improving job market. 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. The encounter came hours after Greece lost a
critical funding artery when the European Central Bank restricted loans
to its financial system.
Source : Bloomberg
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