US Stocks Rise For Week As Hiring, U.S. stocks rose a second week, sending the Standard & Poor’s 500 Index (SPX) to a record, as better-than-forecast data on hiring and manufacturing fueled optimism in the economy and overshadowed concern on Ukraine.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. added at least 4.5 percent to lead an S&P 500 index of financial shares to a five-year high. Lorillard Inc. jumped 8 percent on speculation Reynolds American Inc. is looking to purchase the maker of Newport cigarettes. Staples Inc. and RadioShack Corp. plunged at least 15 percent after the companies said they would close some stores amid sales declines.
The S&P 500 advanced 1 percent to 1,878.04 over the five days to finish the week at an all-time high. The Dow Jones Industrial Average (INDU) increased 131.01 points, or 0.8 percent, to 16,452.72.