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S&P 500 Extends Best Start to Year Since 1987 Amid Jobs Data
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U.S. stocks advanced, extending the best start to a year for the Standard & Poor’s 500 Index since 1987, after a report showed that employment growth topped estimates and the jobless rate unexpectedly fell to 8.3 percent.
Bank of America Corp., Caterpillar Inc. and Alcoa Inc. rallied at least 3.2 percent to pace gains among companies most-tied to economic growth. The Dow Jones Transportation Average gained 1.2 percent as FedEx Corp. climbed 1.9 percent. Genworth Financial Inc., a mortgage guarantor and life insurer, surged 14 percent after swinging to a profit. Tyson Foods Inc. rose 4.1 percent as earnings at the meat processor beat estimates.