U.S. stocks rose, following the biggest advance in a month for the Standard & Poors 500 Index, as energy shares rallied and payrolls and services data boosted confidence in the economy before Fridays jobs report.
Energy companies in the S&P 500 climbed 1.2 percent for a third straight advance as Cimarex Energy Co. and Oneok Inc. surged more than 4 percent. Consumer-staples stocks slipped the most in the U.S. benchmark gauge as Brown-Forman Corp. and Molson Coors Brewing Co. slumped 2.7 percent.
The S&P 500 rose 0.2 percent to 2,070.56 at 12:02 p.m. in New York, after climbing 0.6 percent yesterday. The Dow Jones Industrial Average climbed 8.64 points, or 0.1 percent, to 17,888.19. The Russell 2000 Index jumped 1 percent. Trading in S&P 500 companies was in line with the 30-day average for this time of the day.
The S&P 500 is climbing back to a record reached on Nov. 28 after weaker Black Friday sales and oil prices dragged stocks lower. The gauge has still rebounded 11 percent from a low in October amid optimism the economy is strong enough to withstand a slowdown overseas and tighter monetary policy after the Federal Reserve wound up its asset-purchase program. The Dow closed yesterday at an all-time high.
Source : Bloomberg