Friday, June 15, 2012

Rumor Has It: U.S. Stocks Rise Amid Speculation Central Banks May Act

U.S. stocks advanced, sending the Standard & Poor’s 500 Index toward a second weekly rally, amid speculation global central banks will take steps to boost economies as investors awaited Greek elections this weekend, the good people at Bloomberg report.

Nine of 10 S&P 500 groups rose as commodity and technology shares had the biggest gains. Microsoft Corp.  and Dow Chemical  climbed at least 2 percent. Intercontinental Exchange Inc. jumped 4 percent as Hong Kong Exchanges & Clearing Ltd. agreed buy the London Metal Exchange. Navistar International Corp. soared 8.1 percent as MHR Fund Management LLC disclosed a 13.6 percent stake in the truckmaker. Facebook  rose 2.1 percent and was poised for the first weekly gain since it went public.

The S&P 500 rose 0.5 percent to 1,335.60 at 12:32 p.m. New York time. The Dow Jones Industrial Average added 52.86 points, or 0.4 percent, to 12,704.77 today. Trading in S&P 500 companies was up 7.6 percent from the 30-day average at this time of day…..

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