Bloomberg News

U.S. Stocks Gain as Philadelphia Fed Index Unexpectedly Expands

October 20, 2011

Oct. 20 (Bloomberg) -- U.S. stocks gained after a gauge of manufacturing in the Philadelphia region unexpectedly expanded, bolstering optimism the economy can weather Europe’s debt crisis.

The Standard & Poor’s 500 Index climbed 0.4 percent to 1,214.67 at 10:01 a.m. in New York after drifting between gains and losses before the release of the Philadelphia Federal Reserve Bank’s econonomic index.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus