U.S. Stocks Advance as EU Considers $1.3 Trillion Rescue Fund
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U.S. stocks rose, recovering from earlier losses, as European governments considered deploying $1.3 trillion in funds to tame the sovereign debt crisis.
Financial shares gained the most among 10 industries in the Standard & Poor’s 500 Index, adding 1.8 percent as a group. Fifth Third Bancorp and KeyCorp rose at least 6.9 percent as earnings topped projections. Philip Morris International Inc. rallied 3.3 percent as higher shipments and increased cigarette prices in Asia helped the company beat profit estimates. EBay Inc. declined 3.1 percent after the online marketplace forecast sales and income that missed some forecasts.