U.S. stocks rose, with the Standard & Poor’s 500 Index paring its first weekly decline in a month, as a rally in Intel Corp. and corporate deals overshadowed concern that violence in Iraq will disrupt oil supplies.
STMicroelectronics NV, Europe’s largest semiconductor maker, said it’s extending an outsourced manufacturing agreement with Samsung Electronics Co. to include a type of production meant to enable more low-power chips.
U.S. stocks advanced, giving the Standard & Poor’s 500 Index its best start to a year since 1987, as semiconductor companies and homebuilders gained. The euro rose as the International Monetary Fund proposed boosting its lending resources by as much as $500 billion.
Global stocks dropped from a five- year high, with shares in Europe halting the longest rally in 40 months, as oil and copper tumbled after China’s money-market rates jumped. The yen and Treasuries rose and the dollar rebounded from an almost two-year low versus the euro.