Feb. 4 (Bloomberg) -- U.S. stocks rose, giving the Standard & Poor’s 500 Index a fifth straight weekly advance, after reports showed employment in the world’s largest economy topped forecasts and global manufacturing is strengthening.
[...] the Dow Jones Industrial Average, which climbed to its highest level since May 2008. [...]
The S&P 500 rose 2.2 percent to 1,344.90 since Jan. 27, completing the longest weekly rally since January 2011. It is up 6.9 percent this year, the best annual start since 1987. [...]
“We’re in a positive feedback loop,” Bernard Schoenfeld, the New York-based senior investment strategist at BNY Mellon Wealth Management, which oversees about $168 billion, said in a telephone interview. “The employment picture is improving,” he said. “We’re seeing earnings growth continue to be favorable, valuations are attractive, and the economy seems to be improving.”
Feb. 4 (Bloomberg) -- Asian stocks rose for a seventh week, with the regional benchmark matching its longest winning streak since 2005, as improved manufacturing reports in the U.S., China, India and Europe overshadowed a stalemate over Greek debt negotiations.