U.S. Stocks Rise on Speculation Earnings Will Trigger Rebound
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U.S. stocks gained, with the Standard & Poor’s 500 Index rising from a 10-month low, amid speculation earnings growth will help equities rebound from their lowest valuations since the bull market began in 2009.
Alcoa Inc., which unofficially will start the second-quarter earnings season when it reports results next week, jumped 2.1 percent as metal prices gained in London. Goldman Sachs Group Inc. climbed after JPMorgan Chase & Co. upgraded the shares to “overweight.” Equities briefly erased gains in afternoon trading after a slowdown in service industry growth added to concern the economic recovery is weakening.