U.S. Stocks Advance as Energy Shares’ Rally Offsets Alcoa’s Drop

PT BEST PROFIT FUTURESU.S. stocks rose as energy companies gained amid a rebound in crude, offsetting quarterly results from Alcoa Inc. and Bed Bath & Beyond Inc. that disappointed investors.

The Standard & Poor’s 500 Index advanced 0.4 percent to 2,091.09 at 4 p.m. in New York, with the index earlier trading around its average price for the past 50 days.

The S&P 500 rose Wednesday as minutes from the Federal Reserve’s latest meeting, held before last week’s worse-than-forecast jobs data, showed officials were split on whether they would raise interest rates in June. The benchmark gauge has fallen 1.3 percent from a March 2 record amid concern a stronger dollar and tumbling oil prices will hurt profits.

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Source: Bloomberg

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