Pursuits
S&P 500 Advances to Highest Since 2008 After Bernanke’s Remarks
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U.S. stocks advanced, sending the Standard & Poor’s 500 Index to the highest level since May 2008, after Federal Reserve Chairman Ben S. Bernanke said that accommodative monetary policy is still needed to spur jobs.
The Morgan Stanley Cyclical Index of companies most-tied to the economy rose 1.3 percent. Apple Inc. jumped 1.8 percent to a record as the world’s most-valuable technology company said it plans to increase investment in China. Amazon.com Inc. and JPMorgan Chase & Co. climbed at least 2.2 percent to pace gains among the largest companies. Pfizer Inc. added 1.6 percent as health-care shares rose the most among 10 S&P 500 groups.