U.S. Stocks Gain as Fed Supports Low Rates Amid Recovery

U.S. stocks rose, sending the Standard & Poor’s 500 Index to an all-time high, as the Federal Reserve said growth is bouncing back and repeated that interest rates will remain low for a “considerable time.”

FedEx Corp. advanced 6.2 percent as the operator of the world’s largest cargo airline predicted a pickup in domestic and global economic growth. Adobe Systems Inc. jumped 8.2 percent after posting revenue and profit that beat analysts’ estimates. ConAgra Foods Inc. dropped 7.3 percent as the company cut its fourth-quarter forecast.