Economics
U.S. Stocks Advance Amid Stimulus Bets After Employment Report
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U.S. stocks rose, sending the Standard & Poor’s 500 Index to its highest level in more than four years, amid bets on central bank stimulus as American payrolls increased less than projected.
Commodity and financial shares climbed the most among 10 S&P 500 groups as Bank of America Corp. and Cliffs Natural Resources Inc. jumped at least 5.4 percent. Caterpillar Inc. and Alpha Natural Resources Inc. added more than 3.9 percent as China announced infrastructure projects. Google Inc. closed above $700 for the first time since 2007. Intel Corp. and Kraft Foods Inc. fell more than 3.6 percent, the most in the Dow Jones Industrial Average, amid disappointing forecasts.