U.S. Stocks Climb on Jobless Data as S&P 500 Approaches Record
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U.S. stocks climbed, sending the Standard & Poor’s 500 Index within two points of its record high, as government data showed jobless claims unexpectedly dropped last week to the lowest level in almost two months.
Energy shares rallied, as Chevron Corp. jumped 1.4 percent and Chesapeake Energy Corp. added 5.2 percent. Ryland Group Inc. and PulteGroup Inc. rose at least 3.5 percent, pacing gains among homebuilders. JPMorgan Chase & Co. and Goldman Sachs Group Inc. each tumbled 2 percent after the close of regular trading as the Federal Reserve said they must submit new capital plans to regulators to address weaknesses in their planning processes.