S&P 500 Rises to Two-Month High on Earnings Amid Fed Bets

U.S. stocks rose, sending the Standard & Poor’s 500 Index to a two-month high, amid better-than-estimated earnings and bets that disappointing economic data will lead the Federal Reserve to add stimulus.

International Business Machines Corp., the biggest computer-services provider, and EBay Inc., the largest Internet marketplace, gained at least 3.7 percent as profits beat forecasts. Walgreen Co. soared 12 percent after renewing a contract with Express Scripts Inc. Morgan Stanley slid 5.3 percent after missing estimates as trading revenue plunged. Google Inc., owner of the most popular search engine, rose 3.1 percent at 5:34 p.m. New York time as revenue surged 35 percent.