S&P 500 Has Biggest Gain in Two Months on China Stimulus Signals
This article is for subscribers only.
U.S. stocks rose, giving the Standard & Poor’s 500 Index its biggest rally in more than two months, after China signaled it would support growth while German and French officials said they will work to keep Greece in the euro.
Commodity, technology and industrial shares gained the most among 10 S&P 500 groups. Apple Inc., Newmont Mining Corp. and Boeing Co. added at least 3.8 percent. Cooper Industries Plc surged 25 percent as Eaton Corp. agreed to buy the company for $11.8 billion. Facebook Inc. tumbled 11 percent and closed below its offer price of $38 in its second trading day. JPMorgan Chase & Co. and Bank of America Corp. slumped more than 2.7 percent.