Economics
U.S. Stocks Advance, With S&P 500 at Highest Level Since May
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U.S. stocks climbed, with the Standard & Poor’s 500 Index reaching its highest level in more than two months, amid speculation the Federal Reserve may introduce measures to stimulate economic growth tomorrow.
McDonald’s Corp. rose 1.6 percent after beating sales estimates. EBay Inc. gained 2.5 percent after former unit Skype SA filed for an initial public offering. Homebuilders rose after Deutsche Bank AG said the housing-market decline is almost over. Hewlett-Packard Co. plunged 8 percent after Chief Executive Officer Mark Hurd resigned. Target Corp. advanced 2 percent after Barron’s said the retailer’s focus on higher-margin goods may boost earnings.