Economics
U.S. Stocks Advance as Commodity Shares Rally Before Data
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U.S. stocks rose, after the Standard & Poor’s 500 Index climbed for four straight weeks, as Exxon Mobil Corp. and U.S. Steel Corp. led a commodity rally while investors awaited data on employment and economic growth.
Exxon Mobil, the world’s largest energy company, increased 2.5 percent. U.S. Steel and AK Steel Holding Corp. gained more than 4.4 percent on an industry upgrade by Goldman Sachs Group Inc. Kellogg Co. climbed 0.7 percent after announcing it will reduce its global workforce by seven percent as part of a four-year cost-saving plan. BlackBerry Ltd. tumbled 16 percent as Fairfax Financial Holdings Ltd. walked away from a $4.7 billion takeover plan.