Pursuits
S&P 500 Caps Biggest Weekly Advance in 2012 Amid Spain Optimism
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U.S. stocks rose, giving the Standard & Poor’s 500 Index its biggest weekly rally in 2012, on optimism that weekend discussions among European finance officials may result in a bailout for Spain to shore up its lenders.
Wal-Mart Stores Inc., JPMorgan Chase & Co. and Intel Corp. advanced at least 1.8 percent to pace gains among the biggest companies. Facebook Inc., the operator of the world’s largest social network, climbed 3 percent after researcher ComScore Inc. suggested that marketers can use the site effectively to spur purchases. Alpha Natural Resources Inc. retreated 2.6 percent as the nation’s second-biggest coal producer said it is shutting mines in Kentucky and closing U.S. regional offices.