U.S. Stocks Add to Rally Sparked by Dovish Message From Yellen
- Equities on track for biggest monthly gain since October
- Banks rebound after five-day slide, longest in six weeks
200,000 U.S. Jobs Added in March: ADP
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U.S. stocks rose, extending to the highest levels this year, as central bankers continued to spur optimism amid assurances that they will act to stave off a global downturn.
The Standard & Poor’s 500 Index climbed for a third day after yesterday posting the strongest increase in two weeks as Federal Reserve Chair Janet Yellen signaled officials will be cautious in raising interest rates due to heightened economic risks overseas. The dollar headed for its steepest monthly drop since 2010. Apple Inc. rallied to a three-month high, boosting technology shares, while banks rose for the first time in six days.