Dow industrial average tops 18,000

(AP Photo/Seth Wenig)

(Bloomberg) — Stocks rose a fifth day, sending the Dow Jones Industrial Average past 18,000 for the first time, while Treasuries fell as data showed the economy grew at the fastest pace in a decade. European equities extended a rally, the ruble advanced and oil climbed.

The Standard & Poor’s 500 advanced 0.1 percent to a record at 10:38 a.m in New York, while the Dow average added 66.53 points to 18,025.97. The Nasdaq 100 Index retreated 0.4 percent as biotechnology shares in the gauge plunged a second day. The Stoxx Europe 600 Index increased 0.4 percent, heading for its sixth gain in the longest winning streak since April. The yield on 10-year Treasury notes rose four basis points to 2.20 percent. The Bloomberg Dollar Spot Index touched a five-year high as oil appreciated.