U.S. Stocks Rally for Second Day as Investors Await Fed
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U.S. stocks rose for a second day, pushing the Standard & Poor’s 500 Index to its highest in June, as investors awaited the outcome of a Federal Reserve policy meeting for clues to the central bank’s plan for stimulus.
General Electric Co. and Verizon Communications Inc. rallied at least 1.7 percent, pacing gains among the largest companies. Flir Systems Inc. climbed 6.2 percent after Raymond James & Associates Inc. lifted its rating to strong buy. Walter Energy Corp. advanced 17 percent as Morgan Stanley said the coal miner’s shares may triple. Hormel Foods Corp. dropped 3.6 percent as the company cut its 2013 profit forecast.