U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a fifth straight day, as exports from China topped forecasts and corporate acquisitions fueled optimism in the world’s largest economy.
Speculators are abandoning money-losing positions that stocks with the closest links to the U.S. economy will fall as America’s most-hated shares stage the best rally in a year relative to the broader market.
U.S. stocks erased gains, failing to rebound after the Standard & Poor’s 500 Index’s biggest weekly retreat since June, as investors awaited budget talks in Washington and European finance chiefs met to discuss Greek aid.
