Feb. 11 (Bloomberg) — Stocks rose, sending the Standard & Poor's 500 Index higher for a fourth day, as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market to health while the central bank will likely continue scaling back its bond buying.
Sprint Corp. jumped 7.1 percent after posting fourth- quarter revenue that topped analysts' estimates. CVS Caremark Corp. climbed 2.6 percent as pharmacy sales rose on new medicines and new customers. InvenSense Inc. rallied 11 percent after saying it has settled pending patent litigation proceedings with STMicroelectronics NV.
The S&P 500 gained 0.3 percent to 1,805.15 at 9:53 a.m. in New York. The Dow Jones Industrial Average rose 57.60 points, or 0.4 percent, to 15,859.39. Trading in S&P 500 stocks was 4.6 percent below the 30-day average during this time of the day.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
