By Michael P. Regan and Rita Nazareth – Jun 27, 2012
Stocks (MXAP) rose, halting a four-day slump in Europe and Asia, as growth in U.S. home sales and durable-goods orders topped forecasts and speculation grew that China will add to economic stimulus. Natural gas and oil gained.
The Standard & Poor’s 500 Index advanced 0.8 percent at 1:42 p.m. in New York. The Stoxx Europe 600 Index climbed 1.4 percent and the MSCI Asia Pacific Index rallied 0.7 percent. Natural gas rose 1 percent and oil climbed above $80 a barrel. Spanish and Italian 10-year bonds fell as German Chancellor Angela Merkel reiterated opposition to joint euro-area debt. The euro fell for a third day versus the dollar, losing 0.2 percent to $1.2472. U.S. Treasuries were little changed.