U.S. stocks rose amid a spate of corporate results from Coca-Cola Co. to McDonald’s Corp. Energy shares gained after oil erased losses on inventory data, while Treasuries slid on speculation interest rates will climb this year.
The Standard & Poor’s 500 Index climbed 0.3 percent at 12:47 p.m. in New York. Visa Inc. surged the most since October after China indicated the company could enter the market. Japan’s Nikkei 225 Index closed above 20,000 for the first time since 2000. Ten-year Treasury rates climbed six basis points to 1.97 percent. The yield on five-year Greek notes slumped 189 basis points to 18.94 percent. Oil added 0.2 percent to $56.74 a barrel.
Investors assessing the strength of corporate America have seen 80 percent of the S&P 500 that have reported beat profit projections, while only 48 percent have topped sales estimates. Data showing a better-than-forecast rise in existing home sales boosted speculation the Federal Reserve will raise borrowing costs this year. Greece won access to emergency funding for its banks.
Source : Bloomberg