U.S. Stocks Rise as Global Markets Rally on Fed Program
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U.S. stocks rose, after the Standard & Poor’s 500 Index climbed to its highest level since 2007, as markets rallied around the world on the Federal Reserve’s bond-purchase program.
Alcoa Inc. and Exxon Mobil Corp. jumped at least 1.2 percent, as commodity producers rallied. Apple Inc. jumped 1.2 percent as the Nasdaq Composite Index rose to its highest level in 12 years. Staples Inc. climbed 2.1 percent amid a report private-equity firms are considering buying the largest U.S. office-supplies chain. Analogic Corp. surged 16 percent after profit topped estimates.