U. S. stocks rose for a fourth day, the longest streak in 6 weeks, as economist Nouriel Roubini said the worst of the financial crisis is over and reiterated that the recession may end this year, while takeover speculation lifted commodity shares.

United Parcel Service Inc. and General Electric Co. led industrial shares to the best gain among 10 groups as Roubini, the New York University professor who predicted the financial crisis, said a second government stimulus plan would help broaden the economic recovery. Roubini said July 9 that the recession would last another six months.

Financial shares led the market lower earlier on concern commercial lender CIT Group Inc. will have to file for bankruptcy protection and after JPMorgan Chase & Co. said its credit? card business probably won't make money next year. JPMorgan shares fell even after the bank reported better? than? expected second? quarter results. Profit climbed 36 %, surpassing analysts' estimates, as investment? banking fees rose to a record.

Earnings in US have topped estimates by an average of 24 % for the 28 companies in the S&P 500 that released results since July 8. Shares of CIT, tumbled 75 % to 41 cents. The company said "there is no appreciable likelihood of additional government support being provided over the near term."

The New York? based company, once the biggest independent commercial lender, may need as much as $6 bn to avoid seeking bankruptcy protection, CreditSights Inc. said. Federal Reserve Chairman Ben S. Bernanke will brief Chinese officials at a summit this month about how the U. S. plans to keep inflation in check over the next few years China is still buying U. S. government notes and bonds, increasing its holdings by $38 bn to $801.5 bn in May, according to a U. S. Treasury report released today.

Asian stocks rose, with the MSCI Asia Pacific Index set for its first weekly gain in three, as economist Nouriel Roubini said the worst of the financial crisis is over and reiterated that the recession may end this year.

China's crude steel production, the largest in the world, rose 1.2 % in the first half to a record, as the nation's $586 bn stimulus package spurred demand. Output gained to
266.6 million metric tons, the National Statistics Bureau said, Production beat an estimate of 263. Benchmark Chinese steel prices have gained 17 % since April 1.