Skip to content
Subscriber Only

S&P 500 Rises to 5-Year High Amid Chinese Export Data

U.S. stocks advanced, sending the Standard & Poor’s 500 Index to the highest level in five years, amid better-than-estimated data on Chinese exports.

Financial shares had the biggest gain in the S&P 500 among 10 industry groups as Bank of America Corp. and Morgan Stanley rallied at least 3 percent. Ford Motor Co. climbed 2.7 percent after boosting its dividend. Supervalu Inc. rose 14 percent as a Cerberus Capital Management LP-led investor group agreed to buy five of its chains in a deal valued at about $3.3 billion. Tiffany & Co. slumped 4.5 percent as the jewelry retailer said full-year earnings will be at the low end of its forecast.