Global stock markets staged a modest recovery today boosted by strong data releases that portray a U.S. economy on the upswing.
ASSOCIATED PRESS Enlarge
NEW YORK — 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 today.
It’s the first two-day gain since the Federal Reserve said on June 20 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.