“U.S. stocks rose, erasing earlier losses, as House Speaker John Boehner said he had constructive talks with President Barack Obama on the budget and would accept government revenue increases coupled with spending cuts.
American Express (AXP), UnitedHealth Group Inc. (UNH)and Alcoa Inc. (AA) added at least 1 percent to pace gains in the biggest companies. Facebook Inc. (FB) climbed 5.7 percent as it expanded the roster of retailers that let users buy and send items to their friends on its website. Dell Inc. (DELL)sank 6.8 percent as its revenue forecast missed analysts’ projections estimates. Sears Holdings Corp. (SHLD) plunged 21 percent after the retailer posted a wider loss and its 23rd straight quarterly sales decline.
The Standard & Poor’s 500 Index rose 0.2 percent to 1,356.15 at 2:59 p.m. New York time. It has fallen 1.9 percent this week. The Dow Jones Industrial Average gained 15.99 points, or 0.1 percent, to 12,558.37. Trading in S&P 500 companies was 23 percent above the 30-day average at this time of day.”Comments »