U.S. Stocks Gain as Caterpillar Rises, Commodities Rally
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U.S. stocks rose, after the biggest weekly loss in five months for the Standard & Poor’s 500 Index, as Caterpillar Inc. jumped and a rally in commodity prices spurred energy and raw-material producers.
Caterpillar jumped 2.8 percent after saying it sees increased sales of building equipment and plans more production in China. Halliburton Co. gained 5.6 percent after reporting first-quarter profit that exceeded analysts’ estimates. Microsoft Corp. soared 3.6 percent after activist investor ValueAct Holdings LP amassed about a $1.9 billion stake. Newmont Mining Corp. added 1.3 percent and Exxon Mobil Corp. advanced 0.7 percent as gold and oil prices rose.