U.S. Stocks Advance, S&P 500 Jumps to 2-Month High; GM Rallies

U.S. stocks climbed to a two-month high, following the market’s worst annual drop since the Great Depression, as General Motors Corp. got its first cash infusion from the government and rising oil prices lifted energy shares. GM, the largest U.S. automaker, rallied 14 percent after receiving $4 billion in rescue loans from the Treasury to help the company avoid collapse. Exxon Mobil Corp. and Chevron Corp. led a gauge of energy producers to a sixth straight advance. Starwood Hotels & Resorts Worldwide Inc. jumped 16 percent on takeover speculation after agreeing to notify one of its largest investors of any offers.