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Stocks start with a surge

Monday, October 05, 2015 - 01:14

The week began with a jump in U.S. stocks. The S&P 500 extending its winning streak to five days. Bobbi Rebell reports.

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Investors went shopping for stocks, betting that the Fed won't raise interest rates this year. Energy and industrial sectors led the way higher. Investors ignored a disappointing report showing growth in the services sector slowed in September. S&P Capital IQ's Sam Stovall: (SOUNDBITE) SAM STOVALL, U.S. EQUITY STRATEGIST, S&P CAPITAL IQ (ENGLISH) SAYING: "We're just so oversold. And a lot of investors are very, very pessimistic right now. So, a contrarian could say that maybe most of this negative news is already built into share prices." Jack's back at Twitter. The microblogging company named Jack Dorsey its permanent CEO after he served as interim chief executive. General Electric shares rallied in heavy trading after activist investor Nelson Peltz's Trian Fund Management became a top ten shareholder. Trian called on the conglomerate to cut more costs and buy back more shares. Alcoa shares rose after the aluminum producer nabbed a $1 billion fastener contract with the European jet maker, Airbus. American Apparel became the latest retailer focused on teens to file for bankruptcy protection. In Europe, weak economic data raised expectations that more easy monetary policy lay ahead, sparking a strong equities rally.

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Stocks start with a surge

Monday, October 05, 2015 - 01:14