Stocks Finish Higher

Investors were betting that a big drop in August new home sales would give the Fed additional cover to cut rates at its next meeting

Major U.S. stock indexes finished modestly higher Thursday as traders adjusted their portfolios in advance of the end of the quarter and investors speculated that a worse-than-expected drop in August new home sales provides Federal Reserve with more reason to cut interest rates. There was also trouble for a major private equity deal, but a new report on jobless claims beat expectations.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.