NEW YORK — Stocks are sharply higher following news that output at U.S. factories surged last month.
The Dow Jones industrial average rose 181 points, or 1.1 percent, to 16,247 today.
The increase in factory production was the biggest in six months. That reassured investors that an economic slowdown in January may have been temporary as much of the United States was affected by severe winter weather.
The Standard & Poor’s 500 rose 17 points, or 1 percent, to 1,858. The Nasdaq composite rose 34 points, or 0.8 percent, to 4,279.
Hertz rose 5 percent following a report that the company may spin off its construction equipment rental business.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 percent.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.