Markets Close Higher Over Rate Cut Hopes

Speculation that a slowdown in manufacturing growth will lead to an interest rate cut boosted the markets to a higher close with the Dow soaring 91 points to 13,449. Nasdaq leaped 34 points to 2630 while S&P 500 jumped 15 points to 1489. The 30-year bond eased as the yield edged up to 4.839%.