EconMatters

The yen fell to the weakest in three years against the euro after Bank of Japan policy makers affirmed a plan to double the monetary base over two years and their statement showed no concern about rising bond yields.

Goldman Sachs Group Inc. said the U.S. stock-market rally may last at least another 2 1/2 years, sending the Standard & Poor’s 500 Index up 26 percent to 2,100.

More Americans than projected filed applications for unemployment benefits last week, which may raise concern the slowdown in economic growth is prompting an increase in firings.

The Dollar Index extended its biggest two-day rally since July, triggering plunges in oil and gold, and Treasuries tumbled amid improving confidence in the strength of the U.S. economy. U.S. stocks fluctuated, poised for a third straight weekly gain.

U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from the biggest drop in two weeks, as the European Central Bank cut its key interest rate and American jobless claims unexpectedly fell.

Among defense contractors, QinetiQ North America is known for spy-world connections and an eye- popping product line. Its contributions to national security include secret satellites, drones, and software used by U.S.

The U.S. economy grew less than forecast in the first quarter as a drop in defense outlays undercut the biggest increase in consumer spending in two years.

Central banks, guardians of the world’s $11 trillion in foreign-exchange reserves, are buying stocks in record amounts as falling bond yields push even risk- averse investors toward equities.

West Texas Intermediate crude jumped the most this year as a government report showed that U.S. gasoline stockpiles tumbled while oil inventories rose less than analysts estimated.

Billionaire investor George Soros joined Northern Trust Corp. and BlackRock Inc.

U.S. stocks rose, sending the Dow Jones Industrial Average to its first close above 15,000, on optimism over global central bank stimulus and better-than- estimated corporate earnings.

The Federal Reserve said it will keep buying bonds at a monthly pace of $85 billion while standing ready to raise or lower purchases as economic conditions evolve.

Slowing inflation is giving central bankers scope to provide the world economy with more liquidity and lower interest rates for longer, all in the name of price stability.

Central banks bought the most gold since 1964 last year just before the collapse in prices into a bear market underscored investors’ weakening faith in the world’s traditional store of value.