Economics
U.S. Stocks Advance, Preventing Longest Dow Retreat Since 1978
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U.S. stocks advanced, preventing the longest Dow Jones Industrial Average slump since 1978, amid speculation the Federal Reserve may consider another economic stimulus program to prevent a recession.
MasterCard Inc., the second-biggest payments network, gained 13 percent after profit rose 33 percent as customers’ spending increased. Coca-Cola Co. and General Electric Co. added at least 1.5 percent, leading the Dow’s gain. Technology stocks in the Standard & Poor’s 500 Index climbed 1.2 percent, the most among 10 groups. Sprint Nextel Corp. jumped 3.8 percent as Macquarie Group Ltd. raised its recommendation for the shares.