U.S. Stocks Rise on Factory Data as Small-Caps Advance

U.S. stocks rose, sending the Standard & Poor’s 500 Index to near a record, and small-cap shares rebounded as data showing strength in manufacturing boosted confidence in the global economy.

Best Buy Co. and Williams-Sonoma Inc. added at least 3.4 percent to pace gains among retailers. An index of homebuilders rallied as sales of previously owned U.S. homes rose in April. Hewlett-Packard Co. dropped 2.3 percent as it reported second-quarter sales that fell short of estimates and announced it is cutting more jobs.