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NEW YORK -- Stocks rose today, as investors bet positive economic news and stable interest rates will help lift second-half profits. The Dow Jones industrial average closed up 148.34, or 1.4 percent, at 11,176.14. The Standard & Poor's 500 index gained 19.72, or 1.3 percent, to 1,491.56, and the Nasdaq composite index advanced 60.22 to 3,849.69. Dow gains 148;
Nasdaq up 60Associated Press
Advancers led decliners by nearly a 2-to-1 margin with 1,835 up, 1,038 down and 477 unchanged on the New York Stock Exchange, where volume came to 785.89 million shares, down from 841.39 million Friday. The NYSE composite index rose 7.31 to 672.05; the American Stock Exchange composite index advanced 5.13 to 928.87; the Russell 2000 index was up 4.21 at 514.48.
The 10-year Treasury note's price rose 2/32, or 63 cents per $1,000 face amount, as its yield fell 1 basis point to 5.78 percent. The 30-year bond climbed point as its yield fell 5.69 percent from 5.70 percent Friday.
Investors turned bullish on blue-chip stocks last week, and that sentiment extended into today's session. The catalyst was encouraging inflation data, including a Labor Department report that showed that wholesale prices remained virtually the same in July after a huge jump in June caused by soaring energy costs. The Dow index closed above 11,000 Friday for the first time since April 25. If economic indicators show inflation has been kept at bay, the Fed will be less likely to raise interest rates at their next meeting Aug. 22.