Economics
U.S. Stocks Rise After Selloff Amid Earnings, Bailout
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U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from the biggest weekly loss in two years, as Portugal announced a bailout for Banco Espirito Santo SA and Berkshire Hathaway Inc. beat earnings estimates.
Warren Buffett’s Berkshire Hathaway rose 3.1 percent as results improved at operating businesses including auto insurer Geico, railroad BNSF and the energy unit. Anadarko Petroleum Corp. and Noble Energy Inc. increased more than 4.8 percent to lead a rally among energy companies. Michael Kors Holdings Ltd. fell 5.9 percent, the most in the S&P 500, after the company said profitability will decline this year.