U.S. Stocks Rise on Economic Data as Greece Optimism Lifts Banks
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U.S. stocks advanced, sending the Standard & Poor’s 500 Index near the highest level in about three years, amid better-than-estimated economic reports and optimism that Greece will receive a second bailout.
Financial shares rebounded from earlier losses as Bank of America Corp. rose 4 percent. Microsoft Corp. climbed 4.1 percent on a report that S&P is likely to increase its weighting in the S&P 500. General Motors Co. jumped 9 percent after the automaker posted the biggest annual profit in its 103-year-history. NetApp Inc. increased 7.2 percent as the maker of data-storage products reported revenue that beat analysts’ estimates.