Economics
U.S. Stocks Gain as Dow Erases 2010 Decline on Home-Sale Data
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U.S. stocks rose, erasing the Dow Jones Industrial Average’s 2010 decline, after FedEx Corp. boosted its profit forecast and a report showing improved new- home sales eased concern about the economy.
FedEx and United Parcel Service Inc., package-delivery companies that are considered harbingers for global growth, gained at least 1.9 percent. Pulte Group Inc. and Lennar Corp. jumped more than 3.2 percent. Genzyme Corp. rallied 7.8 percent to the highest price since February 2009 amid speculation the drugmaker will become the target of a bidding war.