U.S.
stocks climbed after a two-day slide, as technology and consumer shares
rebounded and data showed household purchases rose the most in three
months.
Cognizant Technology Solutions
Corp. rallied 6 percent after Morgan Stanley raised its recommendation
on the stock. H&R Block Inc. and GameStop Corp. climbed at least 5.3
percent, leading gains among consumer shares. PG&E Corp. fell 2.7
percent after saying it expects to face criminal charges for the 2010
explosion of one of its natural gas pipelines that killed eight people.
The
Standard & Poor™s 500 Index added 0.8 percent to 1,863.37 at 12:50
p.m. in New York, paring its weekly drop to 0.2 percent. The Dow Jones
Industrial Average rose 117.21 points, or 0.7 percent, to 16,381.44. The
Nasdaq Composite Index rallied 0.8 percent, trimming its loss this week
to 2.2 percent.
The
S&P 500 fell for the fourth time in five days yesterday, as banks
and technology companies declined. Today™s rally has erased the gauge™s
loss in March. It is 0.8 percent higher this quarter.
Copy Source: Bloomberg
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