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U.S. stocks rallied, sending the Standard & Poor’s 500 Index higher for a second straight day, as economic data topped estimates and investors speculated Europe will act to contain its debt crisis.
Dow 10,854 +45.64 +0.42%, Nasdaq 2,437.44 +32.62 +1.36%, S&P 500 1,131.53 +7.58 +0.67%
The S&P 500 rose 0.5 percent to 1,129.55 at 11:24 a.m. New York time. The index jumped 2.3 percent yesterday after plunging more than 20 percent intraday from an April peak, the threshold of a bear market. The Dow Jones Industrial Average added 38.15 points, or 0.4 percent, to 10,846.86 today.
Monsanto Co., the world’s largest seed company, rallied 3.6 percent after forecasting higher-than-expected profit. Halliburton Co. gained 1.5 percent, pacing gains in energy producers, as oil rose after the U.S. Energy Department reported an unexpected decline in inventories. Walt Disney Co. advanced 3.6 percent as Citigroup Inc. raised its recommendation for the shares. Apple Inc. slumped 0.7 percent, dropping for an eighth day for the longest decline since 1998.
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