U.S. Stocks Climb on Greek Optimism Before Jobs Data; Oil Slides
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U.S. stocks rose while Treasuries fell amid optimism Greece will forge a solution to its debt crisis and as investors awaited jobs data that may show the labor market is strengthening. The dollar advanced, while American oil tumbled the most in three months as crude stockpiles increased.
The Standard & Poor’s 500 Index added 0.7 percent by 4 p.m. in New York. The Stoxx Europe 600 Index jumped 1.5 percent after two days of declines as Greece signaled it was ready to compromise on ending a standoff over bailout aid. Yields on 10-year Treasuries advanced seven basis points to 2.42 percent. The Bloomberg Dollar Spot Index climbed 0.7 percent as the euro and yen lost at least 0.5 percent. U.S. oil sank 4.2 percent.