Stocks gain on encouraging news on the U.S. economy

Market headed for third straight gain


FILE - In this Tuesday, May 28, 2013, file photo, trader William McInerney works on the floor of the New York Stock Exchange. Global stock markets were mostly higher Thursday June 27, 2013 after the U.S. said quarterly growth may be weaker than expected, raising investors' hopes that the Federal Reserve would delay plans to wind down its stimulus program. (AP Photo/Richard Drew, File)


NEW YORK — Better reports on jobs and consumer spending are pushing stocks higher on Wall Street.

The Dow Jones industrial average was up 121 points, or 0.8 percent, at 15,031 at midday today. The Dow is headed for its third straight gain.

The Standard & Poor’s 500 index was up 13 points, or 0.8 percent, at 1,616. All 10 industry groups in the index rose.

The Nasdaq composite rose 27 points, or 0.8 percent, to 3,403.

Consumer spending rose 0.3 percent last month as incomes increased at the fastest pace in three months. Claims for unemployment benefits fell 9,000 last week.

The yield on the 10-year Treasury note fell for a second day.

Conagra rose 5.6 percent to $35.23 after the company that makes Chef Boyardee reported earnings that beat analysts’ estimates.