European stocks rose for a fourth week as earnings from Cie. Financiere Richemont SA to ICAP Plc beat analyst estimates and the Bank of England lifted its growth forecast for Europe’s third-biggest economy.
U.S. stocks rallied for a fourth straight week, sending benchmark indexes to record highs, as data showing confidence improved among consumers and small businesses fueled optimism in the world’s largest economy.
Tiger Global Management LLC, Appaloosa Management LP and Tudor Investment Corp. are among the hedge funds that sold large stakes in Apple Inc. during the first quarter as the iPhone maker’s stock slumped.
Stocks rose, sending the Standard & Poor’s 500 Index to another record, as weakness in manufacturing and a drop in wholesale inflation fueled bets the Federal Reserve will be in no rush to scale back stimulus. The euro slid as the region’s recession deepened.