U.S.
stocks rose, following two days of losses, as Coca-Cola Co. and General
Motors Co. rallied while investors watched for progress on debt
negotiations with Greece.
Coke
gained 2.9 percent as profit benefited from cost-cutting efforts and a
shift toward higher-priced drinks. GM rose 3 percent as a member of
President Barack Obama™s team that restructured GM intends to propose an
$8 billion stock buyback. Energy shares slipped 0.6 percent for the
worst performance among 10 groups in the Standard & Poor™s 500
Index.
The
S&P 500 climbed 0.7 percent to 2,061.46 at 12:25 p.m. in New York.
The Dow Jones Industrial Average added 101.95 points, or 0.6 percent, to
17,831.16. Trading in S&P 500 companies was in line with the 30-day
average.
Equities
rose early in the day as speculation grew that Greece will reach an
agreement at a Feb. 11 emergency meeting of euro-area finance ministers
in Brussels. U.S. and European stocks briefly pared gains after German
Financial Minister Wolfgang Schaeuble said reports that Greece would get
six months to work out a debt deal are œwrong.
Source : Bloomberg
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