S&P 500 Advances to Five-Year High on Better-Than-Forecast Data
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U.S. stocks advanced, sending the Standard & Poor’s 500 Index to a five-year high, amid better-than-forecast initial jobless claims and housing data.
A measure of homebuilders in S&P indexes jumped 3 percent to the highest level since 2007. EBay Inc., operator of the largest online marketplace, increased 2.4 percent after revenue topped some estimates. Intel Corp. fell 4.9 percent in after-hours trading after reporting a second quarter of declining sales. BlackRock Inc., the biggest money manager, added 4.4 percent after earnings increased 24 percent and the firm boosted its dividend and its buyback program.