US stocks rise for a second day; yields slip

NEW YORK (AP) — U.S. stock indexes are moving higher for a second day as the bond market recovers from a slump.

Traders were also encouraged by an upturn in Europe.

The Dow Jones industrial average was up 84 points, or 0.6 percent, to 14,844 as of noon Eastern Daylight Time Wednesday. Boeing led the Dow higher with a jump of 1.8 percent.

The Standard & Poor’s 500 was up nine points, or 0.6 percent, to 1,597. Eight of the 10 industry sectors in the S&P rose.

The Nasdaq composite index was up 20 points, or 0.6 percent, to 3,368.

A stampede out of the bond market reversed course after the government reported that the U.S. economy grew at slower rate in the first three months of the year than estimated earlier.

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