S&P 500 Rises to Record on Fed Bets Amid Budget Talks

U.S. stocks rose, sending the Standard & Poor’s 500 Index to a fresh record, as investors weighed the timing of any cuts to Federal Reserve monetary support amid budget negotiations in Washington.

Sysco Corp. jumped 9.7 percent after the food distributor agreed to buy closely held US Foods in a deal valued at about $3.5 billion. Gilead Sciences Inc. advanced 1.6 percent after getting approval for a hepatitis C pill that may generate more than $6 billion in annual sales. McDonald’s Corp. dropped 1.1 percent after November sales missed analysts’ estimates.