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U.S. Stocks Rise to Records Amid Deals, Retail Earnings

U.S. bonds rose, with benchmark
indexes climbing to records, amid corporate deals and as better-than-estimated formula from Wal-Mart Stores Inc. led retailers
higher.

Wal-Mart jumped 3.7 percent after gain topped
estimates. DreamWorks Animation SKG Inc. soared 16 percent after
people briefed on a matter pronounced Hasbro Inc. is in talks to
acquire a company. Procter Gamble Co. was small changed
after offered a Duracell battery business to Berkshire
Hathaway Inc. Kohl’s Corp. slid 3.4 percent as sales missed
forecasts.

The Standard Poor’s 500 Index combined 0.3 percent to
2,043.40 during 9:58 a.m. in New York. The Dow Jones Industrial
Average
rose 55.26 points, or 0.3 percent, to 17,667.46. Trading
in SP 500 bonds was 15 percent subsequent a 30-day normal at
this time of day.

“One of a positives for a marketplace are positive
reactions from sell names to earnings,” Joe Bell, a
Cincinnati-based comparison equity researcher during Schaeffer’s Investment
Research Inc., pronounced by phone. “A lot of a consumer
discretionary zone had low expectations entrance into this
season, though we saw certain formula from Macy’s yesterday and
Wal-Mart today.”

The SP 500 retreated 0.1 percent yesterday to hindrance a five-day rally. The sign has modernized 9.7 percent from a six-month
low in October. Better-than-expected gain and mercantile data
has shored adult certainty that a U.S. economy is means to
weather a tellurian slack even as a Federal Reserve winds down
its bond-buying program.

Jobless Claims

Data currently showed applications for U.S. unemployment
benefits rose some-more than foresee final week, representing a pause
from a new run of readings tighten to a 14-year low.

Jobless claims increasing by 12,000 to 290,000 in a week
ended Nov. 8, a top given Sept. 20, a Labor Department
report showed currently in Washington. The median foresee of 53
economists surveyed by Bloomberg called for 280,000. Continuing
claims also rose.

Kohl’s is among a 7 SP 500 companies reporting
earnings today. J.C. Penney Co. and Cisco Systems (CSCO) Inc. disclosed
earnings late yesterday. Of those members that have already
reported, 79 percent have beaten gain projections while 60
percent have beaten sales estimates, according to information compiled
by Bloomberg.

The Chicago Board Options Exchange Volatility Index climbed
0.2 percent to 13.05. The sign of SP 500 options prices has
increased 0.7 percent this week.

Consumer Shares

Nine of 10 categorical industries in a SP 500 advanced.
Consumer-discretionary producers gained 0.6 percent as GameStop
Corp. and Ford Motor Co. combined during slightest 2.4 percent.

Wal-Mart rose 3.4 percent to $81.88. The world’s largest
retailer also pronounced U.S. same-store sales grew for a initial time
in 7 quarters. The sales boost signals that Chief
Executive Officer Doug McMillon is creation swell in his
turnaround plan.

DreamWorks Animation surged 16 percent to $25.95.
DreamWorks, led by Jeffrey Katzenberg, is seeking for some-more than
$30 a share from Hasbro, pronounced one of a people. The discussions
are rough a people said.

PG was unvaried during $89.48. Berkshire will spin over $4.7
billion of PG shares hold by Buffett’s Omaha, Nebraska-based
company, according to a matter today. Duracell will have
about $1.7 billion in money when a understanding is completed, that is
expected in a second half of subsequent year.

Kohl’s slipped 3.2 percent to $56.04. The tradesman reported
third-quarter income and gain that missed estimates and
said fourth-quarter margins might be pressured.

Cisco Systems rose 1.4 percent to $25.46. Sales will climb
no some-more than 7 percent in a entertain finale in January, short
of analysts’ projections for 8 percent growth. Profit, excluding
some items, won’t strech some-more than 52 cents a share, compared
with a 53 cent guess from analysts.

To hit a contributor on this story:
Callie Bost in New York at
[email protected]

To hit a editors obliged for this story:
Jeff Sutherland at
[email protected]
Jeremy Herron

Article source: http://www.bloomberg.com/news/2014-11-13/u-s-index-futures-gain-as-dreamworks-shares-surge.html

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