Economics
S&P 500 Nears Record Amid Earnings, Optimism in Economy
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U.S. stocks rose, sending the Standard & Poor’s 500 Index to within 10 points of its all-time high, amid better-than-forecast earnings and continued confidence in the strength of the world’s largest economy.
Occidental Petroleum Corp. gained 3.8 percent after saying it will split its operations in California as one of the final steps of a breakup plan. Cliffs Natural Resources Inc. and Campbell Soup Co. added more than 5 percent as earnings beat forecasts. Men’s Wearhouse Inc. tumbled 5.3 percent after its acquisition target, Jos. A. Bank Clothiers Inc., proposed to buy the Eddie Bauer brand.