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Stocks move higher on Wall Street as bond market recovers, sending US yields lower
NEW YORK, N.Y. – The stock market is closing higher for the second day in a row.
The Dow Jones industrial average rose 149 points, or 1 per cent, to 14,910 points Wednesday.
It’s the first two-day gain since the Federal Reserve said last week that it could end its bond-buying program by the middle of next year so long as the economy improves.
The Standard & Poor’s 500 index rose 15 points, or 1 per cent, to 1,603. All 10 industry sectors in the S&P rose.
The Nasdaq composite index rose 28 points, or 0.9 per cent, to 3,376.
Investors also bought bonds, sending the yield on the 10-year Treasury note down to 2.55 per cent.
The price of gold fell to the lowest level in nearly three years.
Trading volume was average at 3.5 billion shares.
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