Feb. 11 (Bloomberg) — Stocks rose, sending the Standard & Poor's 500 Index higher for a fourth day, as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market to health while the central bank will likely continue scaling back its bond buying.
Sprint Corp. jumped 7.1 percent after posting fourth- quarter revenue that topped analysts' estimates. CVS Caremark Corp. climbed 2.6 percent as pharmacy sales rose on new medicines and new customers. InvenSense Inc. rallied 11 percent after saying it has settled pending patent litigation proceedings with STMicroelectronics NV.
The S&P 500 gained 0.3 percent to 1,805.15 at 9:53 a.m. in New York. The Dow Jones Industrial Average rose 57.60 points, or 0.4 percent, to 15,859.39. Trading in S&P 500 stocks was 4.6 percent below the 30-day average during this time of the day.
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