S&P 500 Rallies Most in One Year as Lawmakers Pass Budget Deal
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U.S. stocks rallied, giving the Standard & Poor’s 500 Index its biggest gain in more than a year, as lawmakers passed a bill averting spending cuts and tax increases threatening a recovery in the world’s biggest economy.
All 10 groups in the S&P 500 rose at least 1.8 percent and the 30 stocks in the Dow Jones Industrial Average rallied. Apple Inc. and Facebook Inc. jumped more than 3.2 percent, pacing gains with technology companies. U.S. Steel Corp. climbed 8.6 percent after the shares were upgraded at Credit Suisse Group AG. Zipcar Inc. soared 48 percent after Avis Budget Group Inc. agreed to buy the company.