U.S. Stocks Rise After Durable Goods, Home Prices Beat Forecasts
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U.S. stocks rose, extending the biggest rally for the Standard & Poor’s 500 Index in a week, after reports on durable-goods orders and home prices beat economists’ forecasts and banks advanced.
Financial stocks in the S&P 500 rose 2.8 percent, the biggest gain within 10 industries. Bank of America Corp. surged 11 percent as Meredith Whitney, who predicted Citigroup Inc.’s dividend cut three years ago, said it has no urgent need to raise capital. A gauge of 12 homebuilders in S&P indexes added