Filed Under:Life Insurance, Life Planning Strategies

U.S., euro stocks rise as companies gain on results

The S&P 500 increased 0.5 percent after inflation data signaled the Fed won’t be compelled to raise interest rates.
The S&P 500 increased 0.5 percent after inflation data signaled the Fed won’t be compelled to raise interest rates.

(Bloomberg) -- U.S. and European stocks rose as earnings from Daimler AG to Microsoft Corp. beat estimates. Emerging-market shares advanced to an 18-month high as Indonesia’s rupiah led gains among higher-yielding currencies.

The Standard & Poor’s 500 Index increased 0.2 percent to a record 1,987.41 at 9:33 a.m. in New York. The Stoxx Europe 600 Index climbed 0.2 percent and the MSCI Emerging Markets Index rose 0.3 percent. The rupiah strengthened 0.7 percent against the dollar and Russia’s ruble gained 0.4 percent. The yield on 10-year Treasuries fell 1 basis point to 2.46 percent. Oil advanced 0.3 percent.

The benchmark index has advanced 7.3 percent this year through yesterday amid better-than-estimated corporate earnings and central bank stimulus, as the U.S. economy shows signs of recovering from a 2.9 percent contraction in the first quarter.

European Earnings

The Hang Seng China Enterprises rose 2 percent today after a 2.4 percent surge yesterday. The Shanghai Composite Index increased 0.1 percent, while the Hang Seng Index added 0.8 percent in Hong Kong.

Mortgage Rates

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

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