Pursuits
U.S. Stocks Surge Most Since July 2009 on Greece, Manufacturing
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U.S. stocks posted the biggest weekly rally in two years, with the Dow Jones Industrial Average rising 648 points, after Greece took action to avoid a default, Nike Inc.’s earnings topped analyst estimates and U.S. manufacturing growth rebounded.
Caterpillar Inc., United Technologies Corp. and 3M Co. jumped at least 6.3 percent, pacing gains among companies most-dependent on economic growth. Nike, the world’s largest sporting-goods company, climbed 13 percent. Visa Inc. surged 20 percent, the most in the Standard & Poor’s 500 Index, as the Federal Reserve moved to set a less-severe limit on debit-card swipe fees than previously proposed.