Economics
U.S. Stocks Rise as Jobs Data Offset Fed Stimulus Concern
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U.S. stocks rose, pushing the Dow Jones Industrial Average to a record close, as a better-than-forecast jobs report added to signs growth is strong enough for the economy to withstand a stimulus reduction.
Priceline.com Inc. advanced 4.9 percent after reporting sales that topped analysts’ estimates and promoting Darren Huston to chief executive officer. Gap Inc. climbed 9.8 percent as its profit forecast beat expectations. Groupon Inc. jumped 6.4 percent after posting a narrower-than-estimated loss and agreeing to buy South Korean deals website Ticket Monster Inc. A jump in bond yields boosted insurers and weighed on homebuilders and dividend stocks.