S&P 500 Post Longest Winning Streak Since 2004 on Profits
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U.S. stocks rose, giving the Standard & Poor’s 500 Index its longest winning streak since 2004, as Starbucks Corp. and Procter & Gamble Co. reported increased profit and German business confidence beat forecasts.
Starbucks, the world’s largest coffee-shop operator, advanced 4.1 percent. Procter & Gamble, the biggest consumer-products maker, climbed 4 percent as it also raised its 2013 earnings forecast. Halliburton Co. jumped 5.1 percent as profit exceeded estimates. Apple Inc. surrendered the title of the world’s most-valuable company to Exxon Mobil Corp. as the iPhone maker slumped 2.4 percent.