Wall St gains as weak services data raises rate-cut expectations

The Nasdaq Composite <.IXIC> added 1.12% to end the session at 7,872.27. Over the past 12 months, the S&P 500 is down about 0.5%.

NEW YORK: Wall Street stocks climbed on Thursday after data showing U.S. services-sector activity at a three-year low fueled expectations that the Federal Reserve would cut interest rates to stem a wider economic downturn.

Microsoft rose 1.2% and Facebook added 2.7%, with the two contributing more than any other companies to the S&P 500's gain.