U.S. Stocks Rise as Dow Extends Record on Stimulus Bets
This article is for subscribers only.
U.S. stocks rose, with the Dow Jones Industrial Average extending a record, as investors awaited retailer earnings reports to gauge the strength of consumer demand and the likelihood of cuts to monetary stimulus.
Transocean Ltd. added 3.6 percent after the offshore rig contractor agreed with investor Carl Icahn to propose a $3 per share dividend. ViroPharma Inc. jumped 26 percent as Shire Plc. bought the company for about $4.2 billion. Best Buy Co. rose 4.5 percent after a UBS AG analyst upgraded the stock. KKR & Co. fell 1.5 percent after it bought Brickman Group Ltd. for $1.6 billion.