U.S. Stocks Advance Before Earnings as European Leaders Meet
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U.S. stocks advanced, extending last week’s rally for the Standard & Poor’s 500 Index, as European leaders discussed shoring up the region’s currency and investors awaited the start of the fourth-quarter earnings season.
Measures of industrial, energy and financial shares had the biggest gains in the S&P 500 among 10 groups. Alcoa Inc., the largest U.S. aluminum producer, increased 2.9 percent before reporting its quarterly results. Broadcom Corp. rallied 2.5 percent as Deutsche Bank AG said soft fourth-quarter results for chipmakers create a buying opportunity for the industry.