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