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U.S. Stocks Rise a Second Week as S&P 500 Reaches Two-Year High

U.S. stocks rose for a second week, sending the Standard & Poor’s 500 Index to the highest level since September 2008, as President Barack Obama reached a tax-cut agreement with Republicans, General Electric Co. raised its dividend and consumer confidence topped estimates.

GE rallied 5.6 percent. Citigroup Inc. added 7.2 percent after the Treasury sold its remaining stake in the bank, and American International Group Inc. increased 12 percent after the insurer said it will repay a Federal Reserve credit line. Tenet Healthcare Corp. surged 55 percent after receiving an unsolicited takeover bid from Community Health Systems Inc.