Trader Gregory Rowe, left, works on the floor of the New York Stock Exchange Tuesday, May 27, 2014. Stocks rose Tuesday after the government reported that orders for big-ticket items rose unexpectedly last month. (AP Photo/Richard Drew)
NEW YORK — Stocks are closing higher, giving the Standard & Poor’s 500 index its fourth gain in a row.
Investors were encouraged by a report that orders for big-ticket items unexpectedly rose last month and an increase in consumer confidence.
The S&P 500 gained 11 points, or 0.6 percent, to close at 1,911 today. It had its first close above 1,900 points on Friday.
The Dow Jones industrial average rose 69 points, or 0.4 percent, to 16,675. The Nasdaq composite rose 51 points, or 1.2 percent, to 4,237.
U.S. markets were closed Monday for Memorial Day.
Hillshire Brands, the maker of Jimmy Dean breakfast sausage, jumped 22 percent after poultry producer Pilgrim’s Pride offered to acquire the company.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.51 percent.