Stocks climb as soft data fuels rate cut hopes
NEW YORK, Oct 3 (Reuters) - Wall Street climbed on Thursday after data showing services-sector activity at a three-year low fueled expectations the Federal Reserve would cut interest rates in an effort to thwart a wider economic downturn.
The Dow Jones Industrial Average .DJI rose 123.37 points, or 0.47%, to 26,201.99, the S&P 500 .SPX gained 23.13 points, or 0.80%, to 2,910.74 and the Nasdaq Composite .IXIC added 87.02 points, or 1.12%, to 7,872.27.
(Reporting by Chuck Mikolajczak Editing by Chris Reese)
((firstname.lastname@example.org; @ChuckMik; +1 646 223 5234; Reuters Messaging: email@example.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.