U.S. Stocks Advance as S&P 500 Posts Longest Rally Since July
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U.S. stocks advanced for a fifth straight day, the longest rally since July for the Standard & Poor’s 500 Index, amid optimism that European leaders will make further progress on controlling the region’s debt crisis.
Amazon.com Inc. jumped 5.5 percent to a record, while Procter & Gamble Co. gained 2.5 percent as a report showed that confidence among U.S. consumers rose. Textron Inc., Tyco International Ltd. and Rockwell Collins Inc. added more than 3.1 percent after a report that United Technologies Corp. is lining up financing for an acquisition. Bank of America Corp. and JPMorgan Chase & Co. slumped at least 1.1 percent.