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S&P 500 Rises to Record Amid World Bank View, Bank Rally

U.S. stocks rose, with the Standard & Poor’s 500 Index erasing a loss for 2014 to close at a record, as the World Bank lifted its global growth forecast and Bank of America Corp.’s profit spurred a rally in financial shares.

Bank of America jumped 2.3 percent after the second-biggest U.S. lender reported fourth-quarter earnings and revenue that beat analysts’ estimates. Apple Inc. gained 2 percent after China Mobile Ltd. said pre-orders for iPhones had reached 1 million. Regeneron Pharmaceuticals Inc. declined 4.3 percent amid an analyst downgrade.