Dow Average Reaches Record, Oil Gain Boosts Energy Shares

U.S. stocks rose, with benchmark indexes extending records amid optimism over the economy, as deal activity spurred a rally in health-care shares and energy producers gained with oil prices. Copper advanced a sixth day.

The Standard & Poor’s 500 Index added 0.2 percent to 1,962.91 at 4 p.m. in New York and the Dow Jones Industrial Average climbed 0.2 percent to an all-time high. Shire Plc surged 17 percent as AbbVie Inc. weighed a higher offer for the European drugmaker. Emerging-market shares completed their first weekly drop in June on concern higher oil costs will curb growth. Copper capped the longest rally in six months and coffee advanced for its best day in a month.