S&P 500 Approaches Record on Signs Fed to Keep Rates Low

U.S. stocks are closing in on record highs, with the Standard & Poor’s 500 Index rebounding at the fastest pace since February, as concerns over global crises give way to optimism that central banks will continue to accommodate a recovering economy.

More than $710 billion has been restored to American equities in the past month and the S&P 500 is within 0.3 percent of an all-time high amid bets that the Federal Reserve will leave interest rates near zero for longer even as economic growth shows signs of accelerating. The U.S. equity benchmark added 0.5 percent to 1,981.60 at 4 p.m. in New York today.