U.S. Stocks Advance Amid Speculation Declines Were Overdone
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U.S. stocks rose, with the Dow Jones Industrial Average recovering from an early 102-point slide, as investors speculated that recent declines in equities overshot the potential damage from a slowdown in the economy.
Home Depot Inc., Pfizer Inc. and Kraft Foods Inc. climbed at least 1 percent for the top advances in the Dow. Toll Brothers Inc. rose 5.8 percent after unexpectedly reporting its first quarterly profit since 2007. D.R. Horton Inc. jumped 4.6 percent after Ticonderoga Securities advised buying the shares. Medtronic Inc. gained 2.1 percent after an analyst upgrade.