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U.S. Stocks Rise on Stimulus Bets as Manufacturing Falls

U.S. stocks rose, pushing benchmark indexes to fresh records, as data showing weakness in manufacturing fueled bets the Federal Reserve will be in no hurry to scale back stimulus.

JPMorgan & Chase Co. jumped 1.7 percent to its highest level since June 2007 as financial shares rallied. Procter & Gamble Co. added 1.5 percent as the index tracking consumer-staples stocks hit a record. Macy’s Inc. increased 2.5 percent after reporting profit that beat estimates. Netflix Inc. rose 4 percent, extending gains for a sixth day. Cisco Systems Inc. climbed 8.5 percent after the close of regular trading as quarterly earnings topped analyst forecasts.