Economics
S&P 500 Caps Biggest Three-Day Advance Since February
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U.S. stocks gained, giving the Standard & Poor’s 500 Index its biggest three-day advance since February, after better-than-estimated housing data overshadowed disappointing earnings at United Parcel Service Inc.
A measure of homebuilders in S&P indexes rose 4.8 percent as PulteGroup Inc. rallied 10 percent amid a narrower loss. Chevron Corp. advanced 2.3 percent as the energy company lifted its dividend. Amazon.com Inc., the largest Internet retailer, surged 12 percent at 4:57 p.m. New York time as revenue beat estimates. UPS, the biggest package-delivery company that is considered a proxy for the economy, retreated 1.8 percent.