U.S. Stocks Rise On Policy Bet As Earnings Beat Estimates

 

U.S. stocks advanced, sending the Standard & Poor’s 500 Index higher for a third straight day, amid better-than-estimated corporate earnings and speculation global central banks will take steps to boost economic growth.

JPMorgan Chase & Co. (JPM) and Bank of America Corp. added at least 2.1 percent to pace gains among financial companies. Chesapeake (CHK) Energy Corp., the second-largest U.S. natural-gas producer, increased 9.5 percent after reporting the highest quarterly profit in the company’s history. Fossil Inc. (FOSL) surged 32 percent after forecasting earnings that exceeded analysts’ estimates on increasing sales of its Skagen brand.

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