Pursuits
U.S. Stocks Rise Amid Plunge in Home Sales, Fed Gathering
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U.S. stocks rose, with the Standard & Poor’s 500 Index posting its first two-day rally in three weeks, as investors watched Federal Reserve officials for signals on stimulus cuts after data showed home sales plunged.
Microsoft Inc. rallied 7.3 percent after Chief Executive Officer Steve Ballmer said he would retire within 12 months. Nasdaq OMX Group Inc. added 1.2 percent after the shares slid the most in more than four months following a trading disruption yesterday. D.R. Horton Inc. sank 2.9 percent to pace declines in an index of homebuilder stocks. Pandora Media Inc. slumped 13 percent as its sales forecast missed estimates.