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S&P 500 Caps Longest Monthly Gain Since March on Stimulus Bets

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The Standard & Poor’s 500 Index rose, capping its longest monthly rally since March, as Federal Reserve Chairman Ben S. Bernanke said he wouldn’t rule out steps to lower a jobless rate he described as a “grave concern.”

Gold producers had the biggest gains in the S&P 500 amid stimulus bets. Newmont Mining Corp., the largest U.S. gold producer, added 4.4 percent as the metal posted the biggest monthly advance since January. US Airways Group Inc. rallied 2.5 percent as it signed a pact with bankrupt American Airlines to evaluate a potential merger. Facebook Inc. fell 5.4 percent to a record low on concern that businesses are spending less to advertise on the world’s largest social-networking website.