Stocks Rise as Weak Manufacturing Data Raises Hopes for Second Fed Rate Cut

Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average rose Thursday as investors hoped disappointing U.S. manufacturing data would spur the Federal Reserve to cut rates for a second time.
  • Verizon Communications (VZ – Get Report)  climbed after the telecom giant posted better-than-expected second-quarter earnings and increased its full-year profit guidance.
  • General Motors (GM – Get Report) rose after the automaker posted better-than-expected second-quarter earnings as strong North American truck sales helped offset an ongoing slump in China’s deteriorating car market.

Wall Street Overview

Stocks were rising Thursday as investors hoped disappointing U.S. manufacturing data would spur the Federal Reserve to cut rates for a second time.

The Dow Jones Industrial Average rose 251 points, or 0.94%, to 27,115, the S&P 500 climbed 0.89% and the Nasdaq advanced 1.40%.

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