Economics
U.S. Stocks Add to 8-Week Highs as Banks, Energy Continue Rally
- Equities follow undulations in crude after Tuesday surge
- Monsanto shares tumble after cutting profit forecast
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U.S. stocks advanced, extending their eight-week highs, with banks and energy shares rallying for a second day as improving data bolstered optimism on the economy.
Equities pressed higher in the final hour of trading after swinging between gains and losses for most of the session. Bank of America Corp. increased 2.1 percent to a one-month high, on top of a 5.4 percent gain yesterday, while Exxon Mobil Co. added 1.8 percent. Monsanto Co. fell the most in more than five years after cutting its profit forecast.