BLBG: U.S. Stocks Rise as Jobs Growth, Chipmaker Rally Overshadow Oil
U.S. stocks rose after a private report showed companies added more jobs than forecast last month and Texas Instruments Inc. led a rally in chipmakers, overshadowing concern surging energy prices will hurt growth.
Texas Instruments climbed 3.5 percent to lead semiconductor companies to the top advance among 24 industries after JPMorgan Chase & Co. raised its rating on the industry. Walt Disney Co. and Verizon Communications Inc. led gains in the Dow Jones Industrial Average.
The Standard & Poor’s 500 Index climbed 0.3 percent to 1,309.56 at 10:02 a.m. in New York. The Dow rose 25.85 points, or 0.2 percent, to 12,083.87. Stocks also gained as oil retreated from its high of the day, rising 0.7 percent to $100.29 a barrel after climbing as much as 1.9 percent earlier.
To contact the editor responsible for this story: Michael Regan at mregan12@bloomberg.net