Economics
U.S. Stocks Gain as Strengthening Data Overshadow Europe Crisis
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U.S. stocks rose, snapping a three-day decline in the Standard & Poor’s 500 Index, as data on jobless claims and manufacturing signaling a strengthening economy overshadowed concern over Europe’s debt crisis.
Utilities, health-care and consumer staples had the biggest gains out of 10 S&P 500 groups, advancing at least 0.9 percent. FedEx Corp., the operator of the world’s biggest cargo airline, jumped 8 percent after earnings beat analysts’ estimates on increased holiday orders. Novellus Systems Inc. surged 16 percent as Lam Research Corp. agreed to acquire the company.