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U.S. Stocks Extend Records on Apple Deal, IMF Economic Outlook

U.S. stocks rose, with benchmark indexes extending all-time highs, as Apple Inc. rallied and the International Monetary Fund indicated it would raise its outlook for the economy.

Apple jumped 3.8 percent after the company struck a deal to sell its iPhones through China Mobile Ltd., the world’s largest phone company. T-Mobile US Inc. added 2.8 percent after people familiar with the situation said SoftBank Corp. Chief Executive Officer Masayoshi Son is exploring a deal for Sprint Corp. to buy the majority of the wireless-phone provider next year. Micron Technology Inc. slid 3.1 percent after Bank of America Corp. downgraded its rating on the stock.