U.S. Stocks Advance on Stimulus Bets Before Jobs Report

U.S. stocks rose, with the Standard & Poor’s 500 Index erasing earlier losses to snap a two-day losing streak, as investors weighed the Federal Reserve’s stimulus plans before a report on employment growth tomorrow.

All 10 industries in the S&P 500 advanced. Verizon Communications Inc. and AT&T Inc. added at least 1.6 percent as phone stocks gained the most as a group. Banks and health-care companies jumped 1.4 percent. Costco Wholesale Corp. rose 1.8 percent after reporting an increase in sales. VeriFone Systems Inc. plunged 21 percent as the maker of credit-card terminals forecast earnings that missed analysts’ estimates.