U.S. Stocks Rise as S&P 500 Extends Record Amid Payrolls Report

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U.S. stocks rose a fourth day, with the Standard & Poor™s 500 Index extending an all-time high, as data showing companies added to payrolls last month boosted confidence in the world™s largest economy.

Intuitive Surgical Inc. rose 4 percent after JMP Securities LLC upgraded the stock™s rating. MannKind Corp. jumped 74 percent after its inhaled treatment for diabetes won the recommendation of a U.S. advisory panel. Apollo Education Group Inc. slipped 7.9 percent after it received a subpoena from the Education Department for marketing and recruitment records.

The S&P 500 rose 0.2 percent to 1,888.97 at 12:04 p.m. in New York. The Dow Jones Industrial Average added 17.18 points, or 0.1 percent, to 16,549.79. The gauge ended yesterday 44 points below its record closing level set Dec. 31. Trading in S&P 500 stocks was 8.5 percent below the 30-day average at this time of day.

The S&P 500 rose 0.7 percent yesterday to cap a third day of gains, the longest streak since February, as consumer and technology stocks pushed the gauge to a record and an index of manufacturing boosted optimism the economy withstood severe winter weather.

Copy Source : Bloomberg