Pursuits
U.S. Stocks Rally, Briefly Erasing Dow’s 2011 Loss, on Europe
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U.S. stocks rose, briefly erasing the Dow Jones Industrial Average’s 2011 loss, as European leaders provided a road map to tame the debt crisis and the Federal Reserve said it discussed further asset purchases.
Financial and industrial shares rose the most among 10 groups in the Standard & Poor’s 500 Index. JPMorgan Chase & Co. and Bank of America Corp. jumped at least 2.7 percent, following a rally in European lenders. General Electric Co. and 3M Co. added more than 1.6 percent to pace gains among companies most-reliant on economic growth. PepsiCo Inc., the largest snack-food maker, increased 2.9 percent as profit beat analysts’ estimates.