S&P 500 Caps Longest Rally Since December 2010 on Stimulus Bets

U.S. stocks rose, giving the Standard & Poor’s 500 Index its longest advance since December 2010, as optimism the Federal Reserve will act to stimulate the economy helped the market recover from an earlier decline.

J.C. Penney Co. rose 5.9 percent as Chief Executive Officer Ron Johnson said his overhaul of the department-store chain is “on track.” Facebook Inc. added 3.8 percent as Chief Financial Officer David Ebersman is said to be meeting with investors in New York days before the lifting of a ban on stock sales by some of the company’s biggest shareholders. Broadcom Corp. gained 3 percent as the maker of chips that help mobile devices connect to the Internet was raised at Sanford C. Bernstein & Co.