Updated Monday, October 20, 2014 as of 5:48 AM ET

Dow Average Climbs to Record, Treasuries Decline on Jobs Data

(Bloomberg)--U.S. stocks rose, sending the Dow Jones Industrial Average toward a record close, and Treasuriesfell as a report showed U.S. companies added to payrolls last month. The dollar strengthened with copper and gold.

The Dow gained 0.3% to 16,579.66 at 3:37 p.m. in New York, erasing its loss for the year. The Standard & Poor’s 500 Index rallied 0.3% to an all-time high. The yield on 10- year Treasuries increased six basis points to 2.81%. The Stoxx Europe 600 Index added 0.2%. The dollar climbed to a two-month high against the yen. Copper advanced 0.2% following an earthquake in Chile and gold jumped for the first time in six days. Crude futures pared earlier losses.

Companies in the U.S. added 191,000 jobs in March, less than the 195,000 median estimate in a Bloomberg survey, figures from the ADP Research Institute showed before the government’s employment report on Friday. The value of equities worldwide climbed to an all-time high of $63.09 trillion yesterday as reports showed a pickup in American manufacturing and vehicle sales. Mining companies reported no damage after the 8.2- magnitude earthquake in Chile that killed six people.

“The positive tone from yesterday is most likely to continue into the jobs report, absent some big macro piece of data that comes out between now and then,” Michael James, a Los Angeles-based managing director of equity trading at Wedbush Securities Inc., said in a phone interview. “Longer-term investors are still of the opinion that the U.S. equity market remains one of the best places to be invested for this year.”

The S&P 500 rose 0.7% yesterday as consumer and technology stocks pushed the gauge to a record and an index of manufacturing boosted optimism the economy withstood the severe winter weather.

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