Stocks rallied amid growth in U.S. home sales, better-than-forecast earnings and speculation the European Central Bank will cut interest rates. U.S. equities recovered after briefly erasing gains following a false report of explosions at the White House.
Stocks rose, sending the Standard & Poor’s 500 Index to a record close, as concern over Europe’s debt crisis eased and U.S. factory orders topped forecasts. Gold fell and Italian and Spanish bond yields slid.
U.S. stocks rose, sending the Dow Jones Industrial Average to its longest rally since 1996, as data showing retail sales increased in February by the most in five months bolstered optimism in the world’s largest economy.
Dan Veru, chief investment officer at Palisade Capital Management, says the Standard & Poor's 500 Index will hit its 2012 peak this month and will continue rallying until the November presidential election. Veru talks with Bloomberg's Kathleen Hays and Vonnie Quinn on Bloomberg Radio's "The Hays Advantage."
Stocks advanced, sending the Standard & Poor’s 500 Index up for a fifth day, as insurance and commodity shares led gains amid better-than-forecast earnings. Commodities rose, while the yen gained as the Bank of Japan planned to wait a year to begin open-ended asset purchases.
U.S. stocks slumped, sending the Standard & Poor’s 500 Index down for a third straight day, amid concern Europe’s debt crisis is worsening and after United Parcel Service Inc. lowered its earnings forecast.
Hedge funds are borrowing more to buy equities just as loans by New York Stock Exchange brokers reach the highest in four years, signs of increasing confidence after professional investors trailed the market since 2008.