U.S. Stocks Gain as Retail Sales Beat Forecasts, China Rallies

U.S. stocks rose, snapping a four- day losing streak for the Standard & Poor’s 500 Index, as chain stores from Costco Wholesale Corp. to Gap Inc. reported sales that topped projections and Chinese equities rallied the most in six months.

The S&P 500 climbed 0.9 percent to 1,003.24 at 4 p.m. in New York after tumbling 3.3 percent over the previous three days. The Dow average added 63.94 points, or 0.7 percent, to 9,344.61. More than four stocks rose for each that fell on the New York Stock Exchange.

The MSCI World Index of stocks in 23 developed countries rose 0.5 percent.“Corporate profits are going to continue to surprise investors on the upside,” said Hank Smith, who helps oversee $6 billion as chief investment officer of Haverford Trust Co. in Radnor, Pennsylvania.