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U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for the fourth time in five days, as economic data eased concern about a slowdown and Germany approved changes to a European bailout fund.
U.S. stocks slid yesterday, halting a three-day rally for the S&P 500, on concern that European leaders are divided over how to handle Greece’s debt crisis. A four-day rout last week erased $1 trillion from U.S. equities amid concern Greek insolvency is inevitable and Europe can’t contain the damage.
Dow 11,170.86 +159.96 +1.45%, Nasdaq 2,495 +3.33 +0.13%, S&P 500 1,162.24 +11.18 +0.97%
Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) climbed 3.3 percent as European lenders soared. General Electric Co. and Hewlett-Packard Co. gained at least 2.8 percent as jobless claims fell more than forecast and the U.S. economy grew more than estimated in the second quarter. Advanced Micro Devices Inc. (AMD) slid 12 percent after cutting its forecasts.
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