U.S. stocks rose for a seventh week, sending the Dow Jones Industrial Average to the longest stretch of gains in almost three years, as improved data on employment and retail sales offset concern over a cut in monetary stimulus.
U.S. stocks fell after disappointing forecasts from Best Buy Co. and Campbell Soup Co. while investors awaited a speech from Federal Reserve Chairman Ben S. Bernanke to gauge the prospect of continued stimulus.
U.S. stocks rose, sending the Dow Jones Industrial Average to its first close above 16,000, as data showed improvement in the job market and companies including Union Pacific Corp., Johnson Controls Inc. and Ace Ltd. said they would repurchase shares.
Stocks fell, with Europe’s benchmark index slipping from a five-year high and the Standard & Poor’s 500 Index dropping a second day, as investors weighed rising valuations and disappointing earnings forecasts. Treasuries retreated while natural gas led commodity losses.
Gum Tong owns a diner in Washington, D.C., and Matt Bellinger charters fishing boats in the Florida Everglades. They have this in common: The shutdown of the U.S. government cost them money they will never get back.