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U.S. Stocks Higher on Confidence in Global Economy

U.S. stocks rose, extending all-time highs for benchmark indexes, as small-cap shares rallied amid growing confidence in the global economy.

Best Buy Co. jumped 2.3 percent before the start of the holiday shopping season. Urban Outfitters Inc. advanced 5.4 percent, the most in the Standard & Poor’s 500 Index. Verizon Communications Inc. tumbled 1.4 percent after Citigroup Inc. lowered its rating on the stock. AT&T Inc. slid 1.6 percent.

The Standard & Poor’s 500 Index rose 0.3 percent to a record 2,069.41 at 4 p.m. in New York. The Russell 2000 Index of smaller companies surged 1.2 percent to the highest level since July. The Dow Jones Industrial Average added 7.84 points, or less than 0.1 percent, to 17,817.9, weighed down by Verizon and AT&T. About 5.6 billion listed shares changed hands in the U.S., about 15 percent lower than the three-month daily average.

Bloomberg [1]

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