Loading…
Thursday, July 24, 2014
Current Weather
Loading Current Weather....
Published: Friday, 3/28/2014 - Updated: 3 months ago

Stocks rise as consumer spending inches higher

ASSOCIATED PRESS

NEW YORK — Stocks are higher at midday, shaking off a two-day slump, as traders are encouraged by an increase in consumer spending last month.

Tech stocks turned higher with help from Microsoft. CBS Outdoor rose 7 percent on its first day of trading. The billboard company is splitting off from CBS.

The Standard & Poor’s 500 index rose 14 points, or 0.8 percent, to 1,863 at midday today.

RELATED ARTICLE: Consumer spending increases modestly in February

The Dow Jones industrial average rose 111 points, or 0.7 percent, to 16,373. The Nasdaq composite rose 38 points, or 0.9 percent, to 4,190.

The Commerce Department reported that consumer spending rose 0.3 percent last month. Income increased at the same pace.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.69 percent.



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