Standard & Poor’s 500 Index companies are exceeding analyst sales forecasts by the most since 2012, a sign rising consumer demand is fueling economic growth as the bull market approaches its sixth year.
Even with the flawed roll out of health-care reform and uproar over spying, Barack Obama is enjoying one of the best stock markets for a re-elected president. Signs are building that it might not last.
Emerging-market stocks rose, capping the first weekly gain since November, as China’s equities climbed amid a decline in money-market rates. Gold producers led South African shares to the biggest rally in three months.
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.
The Standard & Poor’s 500 Index rose following its first three-day slump since September, as gasoline and oil rallied while gold and silver slid. Emerging market stocks fell as a gauge of Chinese manufacturing missed estimates and the Federal Reserve said it may reduce stimulus.