S&P 500 Rises to Record Close as Bernanke Backs Stimulus

U.S. stocks jumped, sending the Standard & Poor’s 500 Index to a record closing level, as Federal Reserve Chairman Ben S. Bernanke backed sustained monetary stimulus.

All 10 groups in the S&P 500 rallied, with technology and raw-materials shares posting the biggest gains. Freeport-McMoRan Copper & Gold Inc. and Newmont Mining Corp. led gold producers higher as the precious metal’s price soared. Advanced Micro Devices Inc. rose 12 percent as analysts recommended that investors buy the shares. An S&P gauge of homebuilders added 7.1 percent as all 11 members advanced.