U.S. Stocks Gain After Data Offset Rate-Rise Concerns
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U.S. stocks rose for the third time this week as reports on leading indicators and regional manufacturing fueled optimism in the economy, overshadowing concern that interest rates may rise in the middle of next year.
Microsoft Corp. gained 2.7 percent after Morgan Stanley said the company’s anticipated Office software for Apple Inc.’s iPad could deliver $1.2 billion a year in billings. AT&T Inc. jumped 3.4 percent to lead a rally in phone stocks. Guess? Inc. slipped 3.4 percent after its full-year earnings projection trailed analysts’ predictions.