U.S. Stocks Rise, S&P 500 Heads for Decade-Best Year Gain

Bloomberg (29/10) -- U.S. stocks rose, leaving the Standard & Poor’s 500 Index poised for the best annual gain since 2003, as weaker-than-forecast economic data fueled bets the Federal Reserve will maintain stimulus at its meeting.

The S&P 500 rose 0.1 percent to 1,762.15 at 4 p.m. in New York. The gauge has rallied 23.6 percent this year, which would be the best annual gain since a 26.4 percent surge in 2003. The Dow Jones Industrial Average fell 1.09 points, or less than 0.1 percent, to 15,569.19.

The S&P 500 rallied 0.9 percent last week for its third straight weekly gain, as signs of slower economic recovery fueled bets the Fed will wait until March before scaling back bond purchases. The gauge has jumped 4.8 percent this month as lawmakers agreed to raise the government’s borrowing limit.