U.S. Stocks Rise on Service-Industry Data, Bank of Japan’s Move
This article is for subscribers only.
U.S. stocks climbed, sending the Standard & Poor’s 500 Index to the highest level since May, after American service industries expanded more than forecast and speculation grew that the Federal Reserve will join Japan’s efforts to stoke economic growth.
Boeing Co., Bank of America Corp. and DuPont Co. rose more than 3 percent, leading gains in the Dow Jones Industrial Average following the Institute for Supply Management’s report and the Bank of Japan’s announcement that it will cut rates and buy bonds. Banks rallied as JPMorgan Chase & Co. said they will likely beat third-quarter profit estimates. Chevron Corp. rose