Shanghai Daily: Business - shanghaidaily.com
UNITED States stocks rose for the third time in four weeks, led by energy companies, as higher consumer spending and the Federal Reserve's efforts to give cash to banks spurred speculation the economy will keep expanding. Exxon Mobil Corp and Hess Corp led energy companies to the biggest gain in the Standard & Poor's 500 Index after oil prices climbed for a second week. Earnings reports from Oracle Corp and Research In Motion Ltd drove technology stocks to the second-steepest advance among 10 industries. "You can just feel the tide turning here," said Jim Paulsen, who helps oversee about US$200 billion as chief investment strategist at Wells Capital Management in Minneapolis. "Economic data keeps coming in better than expected and I think it's part of the recovery story." The S&P 500 added 16.51, or 1.1 percent to 1,484.46 last week, bringing its year-to-date advance to 4.7 percent. The Dow Jones Industrial Average rose 0.8 percent to 13,450.65. The Nasdaq