U.S. Stocks Rise as High-Yield Shares Gain Amid Jobs Data
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U.S. stocks rose, with the Standard & Poor’s 500 Index erasing a weekly loss, as geopolitical tensions eased and lower-than-estimated jobs data fueled bets the Federal Reserve won’t rush to raise interest rates.
Walgreen Co. rallied after reporting better-than-estimated sales. Yahoo! Inc., which owns 22 percent of Alibaba Group Holding Ltd., climbed 1 percent after the Chinese Internet company filed to raise as much as $21.1 billion in an initial public offering. Michael Kors Holdings Ltd. slid 4.5 percent after its biggest shareholder prepared to sell its stake.