Stocks Up | featured news

U.S. stocks rose, sending the Standard & Poor’s 500 Index to its highest level since June 2008, as companies from United Parcel Service Inc. to Ford Motor Co. and 3M Co. beat analysts’ profit estimates.

The blue chips kicked off the second quarter with solid gains on optimistic economic data after capping the best first quarter in more than a decade.

Markets calmed Thursday, opening broadly higher in New York. Markets regained their losses Thursday, after falling nearly 2% on Wednesday as Japan’s nuclear crisis and protests in the Middle East heated up fears over the safety in equity investments. Oil added to its gains Thursday, rising 2% to $99.99 a barrel.

Upbeat economic data, and slipping oil prices, sparked a broad rally Thursday, lifting the blue chips to their biggest percent gain since December. 

Some investors found reasons to be optimistic in Mr. Obama’s proposal to cut corporate taxes and increase spending for education, innovation and infrastructure.

Fast food giant reports in-line earnings, chipmaker hikes dividend and earmarks another $10 billion for buybacks.

Stocks started 2011 with a big lift on Monday, and that could be a promising sign for the rest of the year.

Howard Stern is returning to Sirius XM Radio Inc, the shock jock reported on his website on Thursday, sending shares of the satellite radio company up 8 percent.

Europe's sovereign debt crisis will still hang over global markets this week, but on Wall Street, investors will not be afraid to bet on stocks.

Job growth in the U.S. and signs of global manufacturing expansion sent stocks sharply higher Wednesday. Bond prices and the dollar fell as investors moved money into riskier assets.