U.S. Stocks Gain for Third Week on Buybacks; S&P 500, Dow Rise to Records

(Bloomberg) -- U.S. stocks climbed for a third
straight week, sending the Standard & Poor's 500 Index and Dow
Jones Industrial Average to records, after takeover speculation
swept through the metals industry and companies announced $49
billion of share buybacks.

Alcoa Inc. rose to an all-time high and posted the biggest
advance in the Dow industrials as speculation intensified the
world's second-largest aluminum company will become a takeover
target. ConocoPhillips, the third-biggest U.S. energy producer,
extended its longest stretch of gains since at least July 1980
after saying it plans to buy back $15 billion of shares.


Read more at Bloomberg Stocks News