Stocks Rally; S&P 500 Closed at a Record

U.S. stocks advanced on Thursday, with the S&P 500 closing at a record, as European equities regained ground and bond markets stabilized. The Dow Jones Industrial Average jumped 191.75 points, or 1.06%, to 18252.24. The S&P 500 gained 22.62 points, or 1.08%, to 2121.10. The Nasdaq Composite added 69.10 points, or 1.39%, to 5050.79.

Ford Motor Co. Chief Executive Officer Mark Fields, presiding over his first annual meeting, addressed shareholder concern about the company’s lagging stock by promising the company is poised for a profit liftoff in the year’s second half.

General Motors Co. Thursday confirmed it will invest $1 billion into its sprawling Warren Tech Center campus, creating 2,600 new jobs over five years as it renovates facilities, builds new and expands some operations.

The latest reminder unspooled within a few minutes Thursday when a notice came out that a purported private-equity firm made a bid to buy Avon Products Inc. In a market where computers scrape filings and trade automatically on news headlines, the stock shot up 20 percent before the company said it was a hoax.