U.S. Stocks Advance


U.S. stocks advanced for a fourth day, rebounding from an earlier decline, after Federal Reserve Chairman Ben S. Bernanke said the central bank would act quickly to prop up the nation's slowing economy.

Alcoa Inc., Caterpillar Inc. and General Motors Corp. led the gain by the Dow Jones Industrial Average, which had lost as much as 0.6 percent after orders for durable goods fell more than forecast in January. Freeport-McMoRan Copper & Gold Inc. had the second-biggest advance in the Standard & Poor's 500 Index after the dollar's decline sent metal prices higher.

The Dow average added 14.74 point, or 0.1 percent, to 12,699.66 at 10:46 a.m. in New York. The S&P 500 climbed 2.32, or 0.2 percent, to 1,383.61, and the Nasdaq Composite Index rose 13.02, or 0.6 percent, to 2,358.01. About three stocks gained for every two that fell on the New York Stock Exchange.


TradingEconomics.com, Bloomberg
2/27/2008 7:59:48 AM