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U.S. stocks rose, sending the Standard & Poor’s 500 toward its biggest rally in a month, as the leaders of France and Germany pledged a plan to support European banks and stem the region’s debt crisis in three weeks.
Dow 11,380.99 +277.87 +2.50%, Nasdaq 2,557.70 +78.35 +3.16%, S&P 500 1,188.97 +33.51 +2.90%
All 10 groups in the S&P 500 advanced today as gains were led by financial and commodity companies.
Bank of America Corp. and JPMorgan Chase & Co. added more than 4.5 percent. Chevron Corp. and Alcoa Inc. climbed at least 3.1 percent. Caterpillar Inc. and Hewlett-Packard Co. increased more than 3.5 percent, pacing gains in companies most-tied to the economy. Netflix Inc. jumped 4.9 percent after retreating from a decision to split its mail-order DVD service from its Internet streaming.
Sprint Nextel Corp. tumbled 7.7 percent to $2.23 as at least six analysts cut their ratings after the carrier’s investor meeting, citing concerns that rising spending will hurt liquidity.
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