U.S.
stocks rose, following the biggest advance in a month for the Standard
& Poors 500 Index, as energy shares rallied and payrolls and
services data boosted confidence in the economy before Fridays jobs
report.
Energy
companies in the S&P 500 climbed 1.2 percent for a third straight
advance as Cimarex Energy Co. and Oneok Inc. surged more than 4 percent.
Consumer-staples stocks slipped the most in the U.S. benchmark gauge as
Brown-Forman Corp. and Molson Coors Brewing Co. slumped 2.7 percent.
The
S&P 500 rose 0.2 percent to 2,070.56 at 12:02 p.m. in New York,
after climbing 0.6 percent yesterday. The Dow Jones Industrial Average
climbed 8.64 points, or 0.1 percent, to 17,888.19. The Russell 2000
Index jumped 1 percent. Trading in S&P 500 companies was in line
with the 30-day average for this time of the day.
The
S&P 500 is climbing back to a record reached on Nov. 28 after
weaker Black Friday sales and oil prices dragged stocks lower. The gauge
has still rebounded 11 percent from a low in October amid optimism the
economy is strong enough to withstand a slowdown overseas and tighter
monetary policy after the Federal Reserve wound up its asset-purchase
program. The Dow closed yesterday at an all-time high.
Source : Bloomberg
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