U.S. stocks rose for a third day as energy shares rallied and speculation grew that the European Central Bank will provide more stimulus.
Netflix Inc. jumped 17 percent as it posted subscriber growth that beat projections and said it will complete its global expansion within two years. Energy companies climbed 1.8 percent for a third day of gains. International Business Machines Corp. slipped 3.1 percent after its earnings forecast trailed some estimates.
The Standard & Poor™s 500 Index rose 0.5 percent to 2,032.31 at 4 p.m. in New York. The Dow Jones Industrial Average added 39.11 points, or 0.2 percent, to 17,554.34. The Russell 2000 Index dropped 0.3 percent. Trading in S&P 500 companies was 6.9 percent above the 30-day average for this time of the day.
Two euro-area central-bank officials said the ECB™s Executive Board has proposed quantitative easing of 50 billion euros ($58 billion) a month until the end of 2016.