Bloomberg (09/11) -- U.S. stocks rose, with the Standard & Poor’s
500 Index rebounding from its biggest loss in two months, as
better-than-forecast jobs report added to signs growth is strong enough
for the economy to withstand a stimulus reduction.Priceline.com
Inc. advanced 5 percent after reporting sales that topped analysts’
estimates and promoting Darren Huston to chief executive officer. Gap
Inc. climbed 8.7 percent as its profit forecast beat expectations.
Groupon Inc. jumped 5.8 percent after posting a narrower-than-estimated
loss and agreeing to buy South Korean deals website Ticket Monster Inc. A
jump in bond yields boosted insurers and weighed on homebuilders and
dividend stocks.The S&P 500 rose 0.9 percent to 1,763.59 at
3:15 p.m. in New York for the biggest gain since Oct. 16. The Dow Jones
Industrial Average added 100.47 points, or 0.6 percent, to 15,694.45. Trading in S&P 500 stocks was 13 percent above the 30-day average during this time of the day.The
S&P 500 dropped 1.3 percent yesterday as data showing
faster-than-expected economic growth fueled speculation that the Fed may
scale back stimulus soon. Equities rebounded today as the labor report
added to evidence that growth in the world’s largest economy is
strengthening.
