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U.S. Stocks Advance on Earnings as ECB Expands Stimulus

A trader works on the floor of the New York Stock Exchange.

A trader works on the floor of the New York Stock Exchange.

Photographer: Spencer Platt/Getty Images
Updated on

U.S. stocks rallied for a fourth day, wiping out losses for the year in the Standard & Poor’s 500 Index, as the European Central Bank unveiled an expanded stimulus plan and banks and transportation companies surged on better-than-forecast earnings.

KeyCorp led gains among banks after fourth-quarter results topped analyst estimates. Southwest Airlines Co. jumped to a record as profit rose 71 percent on lower jet fuel prices. Union Pacific Corp. added 4.8 percent as a strengthening U.S. economy and growing construction market boosted traffic on the rails in the fourth quarter. EBay Inc. increased 7.1 percent after entering a standstill agreement with activist investor Carl Icahn.