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S&P 500 Rallies to Record on Increased Economic Optimism

U.S. stocks rose, sending the Standard & Poor’s 500 Index to its eighth record high in the past nine sessions, on increased optimism over growth in the world’s largest economy.

Financial shares climbed the most among 10 S&P 500 industry as hedge-fund manager David Tepper called U.S. banks “a good sector.” Bank of America Corp. and Citigroup Inc. rose more than 2.4 percent. Edwards Lifesciences Corp. advanced 6.3 percent after announcing a share buyback program. Apple Inc. slipped 2.4 percent, dragging technology companies to the worst performance among the 10 groups.