Pursuits
U.S. Stocks Rise Amid Greek Bailout Expectations as Nike Jumps
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U.S. stocks rose, sending the Standard & Poor’s 500 Index to its highest level in three weeks, amid optimism European nations will take action to prevent a Greek default and after Nike Inc.’s earnings beat estimates.
Nike rallied 10 percent as higher North American sales helped the world’s largest sporting-goods company top profit projections. Caterpillar Inc., Exxon Mobil Corp. and Alcoa Inc. added at least 2.1 percent, pacing gains in companies most-tied to economic growth. Home Depot Inc. climbed 2.4 percent after the largest U.S. home-improvement retailer said that it is targeting about $3.5 billion in share repurchases for 2011.