U.S. Stocks Gain as Ford Profit, Economic Data Top Estimates

Nov. 2 -- U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from its biggest weekly drop since May, as Ford Motor Co.’s profit beat estimates and gauges of manufacturing, home sales and construction topped projections. Ford rallied as much as 12 percent, the most since April, following its first operating profit since early 2008. Bank of America Corp., DuPont Co. and Alcoa Inc. jumped at least 2.3 percent. European shares erased an earlier drop, while Shanghai Composite Index rose 2.7 percent as China’s manufacturing industry expanded at the fastest pace in 18 months. CIT Group Inc. plunged 54 percent after the commercial lender filed for bankruptcy protection.

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