June 26, 2013 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second day, as China’s cash crunch eased and slower-than-forecast economic growth fueled speculation the Federal Reserve will maintain stimulus.
Citigroup Inc. and Bank of America Corp. advanced at least 0.6 percent. Barrick Gold Corp. and Newmont Mining Corp. fell more than 4.9 percent, leading a selloff in precious-metal producers as gold and silver slumped to 34-month lows.
The S&P 500 increased 0.8 percent to 1,600.89 at 9:48 a.m. in New York, after the equity benchmark rebounded from a nine-week low yesterday. The S&P 500 has lost 1.9 percent in June, paring its advance in the second quarter to 2 percent. The Dow Jones Industrial Average climbed 118.91 points, or 0.8 percent, to 14,879.22 today. Trading of S&P 500 companies was about in line with the 30-day average at this time of day.