Stocks rose, extending the Dow Jones Industrial Average’s record high, as a private report showed faster-than-forecast U.S. job growth and the Federal Reserve said the economy is growing. Oil slid as U.S. inventories rose.
Stocks rallied, sending the Dow Jones Industrial Average to the highest since October 2007, as Italy sold debt amid political turmoil and U.S. data bolstered confidence in the world’s largest economy. The euro rebounded from a seven-week low and Italian 10-year bonds gained.
U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a two-month high, as federal budget negotiations deteriorated. Global equities reached a 17-month high and the euro rose as German business confidence grew.
ISDA’s European Determinations Committee accepted a request to rule whether there has been a credit event with respect to SNS Bank NV. * General Interest Question * Credit event would trigger payouts on SNS CDS * Link to ISDA Website: http://dc.isda.org/credit-default-swaps- management/
U.S. stocks surged, sending the Standard & Poor’s 500 Index to its biggest rally in a year, and commodities jumped after Congress passed a bill averting most of the tax increases and spending cuts threatening the recovery in the world’s biggest economy. Treasury yields gained.
The cost of insuring against default by the government of Denmark jumped 14 basis points to a record 88, according to CMA prices for credit-default swaps. The contracts are up from 28 basis points on June 7.
Stocks rose for a second day as earnings beat estimates at companies from Apple Inc. to Boeing Co., while Federal Reserve Chairman Ben S. Bernanke said he remains prepared to do more to stimulate growth if needed. Treasuries pared earlier losses and the dollar weakened.