U.S. Stocks Rise to Record, Dollar Slips on Rates Outlook

U.S. stock indexes climbed to records and Treasuries gained while the dollar retreated after Janet Yellen said the Federal Reserve’s guidance on interest rates won’t lock it into a timetable for raising borrowing costs.

Both the Standard & Poor’s 500 Index and the Dow Jones Industrial Average were at records by 4 p.m. in New York, and the Nasdaq Composite Index extended its 15-year high. Ten-year Treasury yields dropped eight basis points to 1.98 percent, while the Bloomberg Dollar Spot Index fell 0.3 percent, reversing an earlier gain. The Stoxx Europe 600 Index advanced