S&P 500 Erases Monthly Loss on Biggest Rally Since 2011

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U.S. stocks rose, sending the Standard & Poor’s 500 Index near its all-time high and erasing losses for December, after the Federal Reserve spurred the biggest three-day jump since 2011.

The S&P 500 added 0.5 percent to 2,070.65 at 4 p.m. in New York. The benchmark gauge surged 3.4 percent for the week, the most since October. It is now up 0.2 percent for December and trading 5 points below a closing high reached Dec. 5. The Dow Jones Industrial Average gained 26.65 points, or 0.2 percent, to 17,804.80. Energy shares advanced 3.1 percent to lead gains in the S&P 500.