U.S. Stocks Advance as Raw-Materials, Industrial Shares Rally
- Weaker dollar boosts to manufacturers, commodity companies
- Consumer shares lag, retailers sink amid disappointing results
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U.S. stocks rose for a second day amid a rally in raw-material and industrial shares, as dollar weakness boosted commodity prices and optimism for profits at multinational companies.
Freeport-McMoRan Inc. and Alcoa Inc. rallied at least 10 percent, with Alcoa posting its best two-day gain in nearly seven years. Caterpillar Inc. increased 4.3 percent, while General Electric Co. added 1.8 percent. Consumer companies were the worst performers, with Ralph Lauren Corp. tumbling the most ever after cutting its annual forecast, while Kohl’s Corp. lost 19 percent as slow fourth-quarter sales weighed on earnings.