US Stocks Rally Most in Two Months


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U.S. stocks rallied the most in two months after Wal-Mart Stores Inc.’s profit beat analysts’ estimates and Goldman Sachs Group Inc. said it doesn’t plan any significant writedowns on mortgage-related assets.

Wal-Mart, the world’s largest retailer, posted its biggest advance since 2002 and helped lead the market’s rebound from four straight declines. Goldman, the largest securities firm, climbed the most in six years and pushed financial shares to a fourth straight gain. Apple Inc. led the Nasdaq Composite Index to its biggest gain in four years after China Mobile Ltd. said it’s in talks to sell the iPhone in China.

The Standard & Poor’s 500 Index climbed 41.87, or 2.9 percent, to 1,481.05, the biggest gain since the Federal Reserve cut interest rates on Sept. 18. The Dow Jones Industrial Average increased 319.54, or 2.5 percent, to 13,307.09. The Nasdaq added 89.52, or 3.5 percent, to 2,673.65. Almost nine stocks gained for every one that fell on the New York Stock Exchange. [MORE]