Economics
U.S. Stocks Gain as Selloff Fades in Internet, Small-Caps
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U.S. stocks rose, with the Standard & Poor’s 500 Index erasing an earlier slide, as Internet and smaller companies pulled back from a selloff amid optimism over merger activity.
Pfizer Inc. added 4.2 percent after proposing to buy AstraZeneca Plc for about 58.8 billion pounds ($98.7 billion). Microsoft Corp. and Apple Inc. rallied more than 2.4 percent, leading gains among the largest technology companies. Bank of America Corp. dropped 6.3 percent after suspending its planned buybacks and dividend increase because of an error in its capital planning.