U.S. stocks extended all-time highs and European bonds gained amid speculation the European Central Bank will buy government debt to support growth. Natural gas led commodities lower and oil retreated.

The Standard & Poors 500 Index rose 0.3 percent to an all-time high at 4 p.m. in New York. The Dow Jones Industrial Average climbed less than 0.1 percent to extend a record, while the Russell 2000 Index of small companies rallied 1.2 percent to a July high. The Stoxx Europe 600 Index closed little changed as gains by banks offset a slump in resource producers. The yield on Spains 10-year bond fell four basis points to a record 1.97 percent. Natural gas slid the most since February, and crude oil fell before an OPEC meeting.

The S&P 500 advanced 1.2 percent last week as data signaled the U.S. economy is improving, ECB President Mario Draghi pledged to raise inflation as fast as possible and China unexpectedly cut interest rates. A gauge of German business confidence unexpectedly rose for the first time in seven months, a report showed today. Preliminary data from Markit Economics showed the U.S. services industries expanded at a slower pace than estimated this month. OPEC meets this week to determine production levels.

Source: Bloomberg