S&P 500 Heads for Best Week in 2012 Ahead of Spain Talks

Bloomberg News – By Rita Nazareth – June 8, 2012

U.S. stocks rose, sending the Standard & Poor’s 500 Index toward its best week in 2012, as investors awaited weekend discussions of European finance officials for news of a potential bailout of Spain.

Scott Eells/Bloomberg

Wal-Mart Stores Inc. (WMT) and Intel Corp. (INTC) added at least 1.4 percent to pace gains among the biggest companies. Facebook Inc., which this week fell to the lowest price since it went public, added 3.7 percent. McDonald’s Corp. (MCD), the largest restaurant chain, slid 1 percent as its May sales trailed analysts’ estimates. Alpha Natural Resources Inc. (ANR) slumped 4 percent as the nation’s second-biggest coal producer is shutting mines in Kentucky and closing U.S. regional offices.

The S&P 500 rose 0.1 percent to 1,316.89 at 12:07 p.m. New York time, after declining as much as 0.6 percent earlier. The benchmark measure has rallied 3 percent this week. The Dow Jones Industrial Average increased 16.84 points, or 0.1 percent, to 12,477.80 today. Treasuries rose for a second day.

To read the full article please click here.

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