U.S. stocks rose to records, with benchmark gauges capping
a sixth week of gains, as investors assessed data on factory output amid
growing speculation the Federal Reserve will maintain the pace of its monthly
stimulus.
Exxon Mobil Corp. rallied 2.2 percent to a record after
Warren Buffett’s Berkshire Hathaway Inc. disclosed a stake. FedEx Corp. climbed
1.6 percent as billionaire investorsGeorge Soros andJohn Paulson took
positions. Fannie Mae and Freddie Mac increased at least 6.2 percent as Bill
Ackman’s hedge fund bought shares in the government-backed mortgage insurers.
Western Union Co. dropped 4.3 percent after the company said its chief
financial officer is leaving.
The Standard & Poor’s 500 Index rose 0.4 percent to
1,798.18 at 4 p.m. in New York. The gauge gained 1.6 percent in the past five
days, capping its longest streak of weekly gains since February. The Dow Jones
Industrial Average added 85.48 points, or 0.5 percent, to 15,961.70, a third
straight record. About 6.1 billion shares changed hands on U.S. exchanges
today, in line with the three-month average.
(Source: Bloomberg)