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  • U.S. Stocks Rise With Gold as Yen Slips, Oil Extends Drop



    U.S. stock indexes climbed to records as health-care shares rallied and materials producers gained with gold, while crude oil extended declines. The yen slipped after Japan’s prime minister called an early election and postponed an increase to the nation’s sales tax.

    The Standard & Poor’s 500 Index (SPX) rose 0.5 percent to close at 2,051.80 in New York, its biggest gain since Nov. 5, while the Dow Jones Industrial Average added 0.2 percent, also reaching a record. The Stoxx Europe 600 Index advanced 0.6 percent, and the euro strengthened 0.7 percent. The yen declined against all but two of its 16 major counterparts as futures on the Nikkei 225 Stock Average climbed in Chicago. Gold futures jumped 1.1 percent while crude retreated for a second day.

    Nine of the 10 main S&P 500 groups advanced amid the index’s first move of more than 0.1 percent in six days. Medtronic Inc. and Actavis Plc drove gains among health-care companies. U.S. wholesale prices unexpectedly rose, while German investor confidence climbed for the first time in 11 months. Prime Minister Shinzo Abe put off the sales-tax boost for 18 months and said parliament will be dissolved Nov. 21 after data this week signaled Japan has entered a recession.

    “Consumer and investor sentiment is pretty positive at the moment,” Omar Aguilar, the San Francisco-based chief investment officer of equities at Charles Schwab Investment Management, said by phone. “We continue to see M&A as the topic of the day and U.S. economic data is suggesting really good stability.”


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