Economics
U.S. Stocks Rise on Earnings Optimism as Citigroup Jumps
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U.S. stocks advanced, with the Standard & Poor’s 500 Index rebounding from the biggest weekly loss in three months, as Citigroup Inc. rallied on better-than-forecast earnings and Internet shares rebounded.
Citigroup climbed 3 percent, leading financial shares higher as trading revenue topped estimates. Facebook Inc. and Netflix Inc. paced gains in Internet stocks. Apple Inc. rose 1.3 percent after Barclays Plc advised investors to buy shares in the world’s biggest company by market value. URS Corp. jumped 12 percent after Aecom Technology Corp. agreed to acquire the construction-management company for about $4 billion.