U.S. stocks gained, recovering yesterday’s losses, on speculation President-elect Barack Obama’s $775 billion package of tax cuts and government spending will revive the economy.

The S&P500 Index rose 0.8 percent to 934.70, rebounding from yesterday’s 0.5 percent drop and climbing to the highest since Nov. 5. The index is up 3.5 percent in 2009 after sliding 38 percent in 2008, its worst yearly loss since 1937. The Dow Jones Industrial Average increased 62.21 points, or 0.7 percent, to 9,015.1.

(Bloomberg.com)