U.S. Stocks Rise Amid Earnings Optimism, China Data
This article is for subscribers only.
U.S. stocks rose, giving the Standard & Poor’s 500 Index its first back-to-back gain in more than three weeks, on optimism over earnings and as commodities gained amid a report showing China’s inflation slowed.
Raw-materials producers rose 1.1 percent amid speculation that tamed inflation would reduce pressure on Chinese policy makers to tighten credit. Microsoft Corp. and Intel Corp. rallied more than 3.1 percent as investors snapped up technology shares, the worst performing group this year. Alcoa Inc. was unchanged after posting earnings. J.C. Penney Co. slumped 12 percent as it ousted Chief Executive Officer Ron Johnson and reinstated his predecessor, Myron E. Ullman III.