U.S. stocks rallied, sending the Standard & Poor’s 500 Index to its highest level ever, as China’s imports grew, Japan reiterated its stimulus plans and investors speculated earnings will beat estimates.
“We’ve had a pretty good crisis,” says Barry Bausano , smiling as he surveys Deutsche Bank AG’s sprawling 35,000-square-foot equities trading floor in downtown Manhattan. Behind him, on bookshelves in his glass-walled office, sit two copies of “Too Big to Fail,” along with “Liar’s Poker” and “Triumph of the Optimists,” which tracks 101 years of worldwide investment returns.
U.S. stocks rose, sending the Standard & Poor’s 500 Index within 1 percent of a record high, as data showed employers added more jobs than forecast last month and the unemployment rate unexpectedly dropped.
Treasuries rose for the first time in seven days while Britain’s pound touched the lowest level since 2010 versus the dollar after U.K. industrial production unexpectedly declined. Most U.S. stocks fell, even as the Dow Jones Industrial Average climbed to another record.
U.S. stocks gained, with benchmark indexes closing at five-year highs, while Treasuries trimmed an earlier advance as the House voted to temporarily suspend the federal debt limit. Oil led commodities lower.
U.S. stocks erased losses in the final 15 minutes, sending the Standard & Poor’s 500 Index to a second weekly gain, as investors bought shares before changes to MSCI Inc. indexes amid federal budget talks.
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.
For the first time in more than a century, weather has stopped U.S. equity trading for two straight days as Hurricane Sandy swept across New York City. NYSE Euronext will this morning test a back-up plan in case its headquarters or trading floor are unable to open tomorrow.