U.S. Stocks Rise as Travelers, Netflix Rally on Earnings
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U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a third day, as earnings from Travelers Cos. to Netflix Inc. beat estimates and new-home sales rose in March.
Equities recovered after a false report of explosions at the White House briefly erased gains. Netflix jumped 24 percent for the biggest advance in the S&P 500. Travelers rose 2.1 percent as profit exceeded projections. Bank of America Corp. gained 3 percent after Morgan Stanley recommended investors buy the stock. Apple Inc. surged 5.2 percent after the market closed, as the company raised its dividend and increased its share buyback.