Pursuits
S&P 500 Has Longest Weekly Gain Since March on Stimulus Optimism
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U.S. stocks rose for the fifth week, giving the Standard & Poor’s 500 Index the longest rally since March, amid better-than-expected earnings and optimism that global central banks will take actions to stimulate growth.
Cisco Systems Inc., Alcoa Inc. and Hewlett-Packard Co. rose at least 7.3 percent, driving the Dow Jones Industrial Average to its longest winning streak since October. Raw-material producers rose the most among 10 S&P 500 groups, as International Flavors & Fragrances Inc. climbed 11 percent on better-than-estimated earnings. Knight Capital Group Inc., the firm driven to the brink of bankruptcy by trading losses, tumbled 28 percent after receiving a cash infusion.