The Standard &
Poor’s 500 Index edged higher, tying its longest rally in more than a
year, as commodity producers surged with crude oil to offset declines in
technology and consumer shares while investors assessed China’s growth
prospects.
The S&P 500
advanced 0.1 percent to 2,001.66 at 4 p.m. in New York, with the gauge
above its average price during the past 100 days after closing above
that level for the first time this year.
China’s leaders failed
to announce specific measures to support the world’s second-biggest
economy at an ongoing annual legislature meeting, damping speculation of
more stimulus. They set an expansion goal of 6.5 percent to 7 percent
for 2016, down from last year’s target of around 7 percent, and said
they will permit a record-high budget deficit.
Source : Bloomberg
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