S&P 500 Climbs to Record as Macy’s Jumps Amid Fed Bets

U.S. stocks rose, sending benchmark indexes to records, as Macy’s Inc. led a rally among retailers and investors speculated the Federal Reserve’s Janet Yellen will continue the central bank’s stimulus policy as chairman.

Macy’s jumped 9.4 percent as better-than-estimated earnings fueled optimism about the holiday shopping season. Tesla Motors Inc. advanced 0.7 percent as co-founder Elon Musk said the company won’t recall its Model S after fires involving the electric sedan. Cisco Systems Inc. dropped 7 percent after the market close as revenue fell short of forecasts.