Stocks up as oil rises past $70 a barrel

U.S. stocks extended gains following a spate of mergers and acquisitions while the dollar resumed its winning ways to reach the strongest level this year. Crude rose past $70 a barrel as traders braced for renewed U.S. sanctions on Iran.

The S&P 500 Index rose to a two-week high, led by oil and tech stocks. The Stoxx Europe 600 Index climbed, though trading volumes in the region were lighter than usual thanks to a U.K. holiday. The euro weakened as 10-year Treasury yields fluctuated near...

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