Stocks Advance on Earnings, Fed as Treasuries Trim Drop

Stocks rose for a second day as earnings beat estimates at companies from Apple Inc. to Boeing Co., while Federal Reserve Chairman Ben S. Bernanke said he remains prepared to do more to stimulate growth if needed. Treasuries pared earlier losses and the dollar weakened.

The Standard & Poor’s 500 Index jumped 1.4 percent to close at 1,390.69 at 4 p.m. in New York. The Nasdaq-100 Index rallied 2.7 percent, the most in 2012, with Apple surging 8.9 percent for its best gain in more than three years. Ten-year Treasury note yields added one basis point to 1.99 percent after gaining six points earlier. The dollar fell versus 13 of 16 major peers. Cattle rebounded after tumbling yesterday following the first U.S. case of mad-cow disease in six years.