S&P 500 Caps Best Four-Day Rally in 13 Months as Treasuries Drop

U.S. stocks rose a fourth day and Treasuries fell as comments from Federal Reserve Chairman Janet Yellen fueled bets the economy is strong enough to weather further stimulus cuts. Gold extended a rally to five days.

The Standard & Poor’s 500 Index climbed 1.1 percent at 4 p.m. in New York, capping the biggest four-day rally since January 2013. The Nasdaq Composite Index gained 1 percent to erase its loss for the year. The MSCI All-Country World Index advanced 1 percent. Treasury 10-year note yields rose five basis points to 2.72 percent. Greek 10-year bonds advanced as the nation auctioned bills at the lowest rate in more than four years. Gold rose 1.2 percent to settle at $1,289.80, clinching its longest winning streak since 2012.