U.S. Stocks Rise as Optimism Grows Over Ending Impasse
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U.S. stocks rose, with the Standard & Poor’s 500 Index trimming a weekly decline, as optimism grew that the lawmakers would reach a deal to end the budget impasse and avoid a default on the federal debt.
All 10 main groups in the S&P 500 advanced at least 0.2 percent. Walt Disney Co. jumped 2 percent and Boeing Co. added 1.7 percent to pace gains among large companies. Facebook Inc. gained 3.8 percent as the operator of the world’s most popular social network said it will sell advertising on its Instagram photo service. Union Pacific Corp. declined 1 percent after its earnings forecast missed analysts’ projections.