Economics
Most U.S. Stocks Rise as Consumer Confidence Overshadows GDP
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Most U.S. stocks rose, extending the biggest monthly gain in a year for the Standard & Poor’s 500 Index, as higher-than-estimated consumer confidence and business activity tempered concern the economic rebound is slowing.
MetLife Inc. climbed 4.6 percent as the biggest U.S. life insurer topped income projections. McAfee Inc. had the biggest gain in the S&P 500, rising 9.4 percent, after the maker of security software reported second-quarter profit that beat analysts’ estimates. Merck & Co. lost 1.7 percent, the second- most in the Dow Jones Industrial Average, after the drugmaker’s revenue missed the average analyst estimate.