US stocks rise for a second day; yields slip

NEW YORK (AP) — The stock market is closing higher for the second day in a row.

The Dow Jones industrial average rose 149 points, or 1 percent, to 14,910 points Wednesday.

It’s the first two-day gain since the Federal Reserve said last week that it could end its bond-buying program by the middle of next year so long as the economy improves.

The Standard & Poor’s 500 index rose 15 points, or 1 percent, to 1,603. All 10 industry sectors in the S&P rose.

The Nasdaq composite index rose 28 points, or 0.9 percent, to 3,376.

Investors also bought bonds, sending the yield on the 10-year Treasury note down to 2.55 percent.

The price of gold fell to the lowest level in nearly three years.

Trading volume was average at 3.5 billion shares.

blog comments powered by Disqus