Loading…
Sunday, December 21, 2014
Current Weather
Loading Current Weather....
Published: Thursday, 3/20/2014

Stocks close higher after encouraging U.S. economic news offsets interest rate concerns

ASSOCIATED PRESS

NEW YORK — The stock market closed higher today as encouraging news about the U.S. economy outweighs concerns that interest rates could start climbing sooner than many people had expected.

Major U.S. indexes erased nearly all of their losses from the day before, when Fed Chair Janet Yellen suggested that rates could rise next year.

The Standard & Poor’s 500 index rose 11 points, or 0.6 percent, to close at 1,872 today.

The Dow Jones industrial average gained 108 points, or 0.7 percent, to 16,331. The Nasdaq composite climbed 11 points, or 0.3 percent, to 4,319.

An index of economic indicators rose in February by the largest amount in three months, suggesting growth will accelerate following a severe winter. The Philadelphia branch of the Fed said manufacturing rebounded in that region in March.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories