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U.S. stocks advanced, sending the Dow Jones Industrial Average toward its longest streak of weekly gains since April, as retail sales beat economists’ estimates and the Group of 20 began discussions on Europe’s debt crisis. Equities pared gains as people familiar with the discussions said European officials are considering writedowns of as much as 50 percent on Greek bonds.
Dow 11,563.62 +85.49 +0.74%, Nasdaq 2,642.77 +22.53 +0.86%, S&P 500 1,214.38 +10.72 +0.89%
All sectors of S&P500 traded at a higher. The maximum increase in the basic materials sector (+1.7%), minimal increase in the financial sector (+0.1%).
Google Inc., the world’s biggest Internet-search company, jumped 5.9 percent after sales topped projections. Apple Inc. gained 1.8 percent as the company is poised to sell as many as 4 million units of its new iPhone 4S this weekend after customers queued to buy one of the last products developed under Steve Jobs.
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