World Market

Stocks Gain Most in Almost Four Weeks; Yields Rise: Markets Wrap

U.S. stocks closed at the highest levels of the day amid optimism that President Donald Trump will leave the hospital and lawmakers will move closer to providing more stimulus. Treasury yields jumped and the dollar weakened.

The S&P 500, Nasdaq Composite and Dow Jones Industrial Average all rebounded from Friday’s swoon in the wake of Trump’s coronavirus disclosure. Regeneron Pharmaceuticals Inc. rallied after Trump was given an experimental antibody treatment made by the drugmaker. Energy, health care and technology shares were the biggest gainers in the S&P, pushing the benchmark index up by the most in almost four weeks.

Main moves in markets:

Stocks

The S&P 500 Index climbed 1.8% to 3,408.56 as of 4:01 p.m. New York time, the highest in a month on the largest increase in almost four weeks.

The Dow Jones Industrial Average surged 1.7% to 28,148.18, the highest in more than a month on the biggest jump in almost 12 weeks.

The Nasdaq Composite Index climbed 2.3% to 11,332.48, the highest in more than a month on the largest increase in almost four weeks.

The Nasdaq 100 Index gained 2.3% to 11,509.06, the biggest rise in more than a week.

The Stoxx Europe 600 Index rose 0.8% to 365.63, the highest in more than two weeks on the largest advance in a week.

Currencies

The Bloomberg Dollar Spot Index sank 0.4% to 1,169.13, the lowest in more than two weeks on the biggest dip in more than five weeks.

The Japanese yen depreciated 0.5% to 105.77 per dollar, the weakest in more than three weeks on the largest decrease in five weeks.

The euro climbed 0.6% to $1.1783, the strongest in more than two weeks.

Bonds

The yield on 10-year Treasuries climbed seven basis points to 0.78%, the highest in almost four months on the largest surge in a month.

The yield on 30-year Treasuries climbed nine basis points to 1.58%, reaching the highest in almost four months on its sixth straight advance and the biggest surge in a month.

Germany’s 10-year yield increased three basis points to -0.51%, the highest in more than a week on the largest climb in more than three weeks.

Britain’s 10-year yield rose four basis points to 0.288%, the highest in almost five weeks.

Commodities

West Texas Intermediate crude surged 6.2% to $39.36 a barrel, the largest jump in 20 weeks.

Gold strengthened 0.6% to $1,911.48 an ounce, the highest in two weeks.

Copper declined 0.4% to $2.97 a pound.