U.S. Stocks Rise on Employment Data Amid Budget Talks
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U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a third week, as optimism over better-than-estimated jobs data overshadowed a drop in consumer confidence amid continuing budget talks.
JPMorgan Chase & Co. and Bank of America Corp. advanced more than 1.7 percent as financial shares rallied. American International Group Inc. rose 2.6 percent after saying it is in talks to sell 90 percent of its plane-leasing unit. Apple Inc. lost 2.6 percent, sending the maker of iPhones and iPad tablet computers to its biggest weekly decline since May 2010.