U.S. Stocks Rise as Jobs Reports Offset Egypt, Portugal
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U.S. stocks rose, sending the Standard & Poor’s 500 Index to the highest level in two weeks, on better-than-estimated labor data as investors watched political developments in Egypt and Portugal.
Chipotle Mexican Grill Inc. advanced 3.5 percent amid an analyst upgrade. Time Warner Cable Inc. paced gains among telecommunication service providers as Macquarie Group Inc. predicted a “wave” of takeovers. Bank of America Corp. and Citigroup Inc. declined as Standard and Poor’s downgraded three European lenders. Alcoa Inc. fell 1.2 percent as JPMorgan Chase & Co. cut the stock’s rating.