U.S. Stocks Rise on Yellen Pick as Lawmakers Seek Deal
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U.S. stocks rose, rebounding from the benchmark index’s biggest two-day slump since June, amid optimism that Janet Yellen won’t rush to withdraw stimulus and signs that lawmakers could raise the debt ceiling.
Hewlett-Packard Co. rallied 8.9 percent after saying it expects to return more cash to shareholders and see revenue stabilize after a multiyear decline. Alcoa Inc. gained 2 percent amid better-than-forecast profit. Yum! Brands Inc. sank 6.7 percent after third-quarter income fell 68 percent on lower same-store sales in China.