NEW YORK >> Energized by more encouraging economic news, Wall Street resumed its upward march today, propelling the Dow Jones industrials to their third triple-digit gain in the last four sessions. Blue chips resume rally
while Nasdaq ends strongBy Lisa Singhania
Associated PressBlue chips surged for much of the day, but the advance in tech stocks came late in the session as still-cautious investors finally decided the beleaguered sector deserved their attention.
The Dow closed up 140.88 at 10,574.29, rebounding almost completely from a 153-point loss the previous session. The average has advanced a total of 468 points since Friday.
Broader stock indicators also moved higher. The technology-focused Nasdaq composite index rose 24.10 to 1,890.39, overcoming losses from earlier in the session. The Standard & Poor's 500 index advanced 16.63 to 1,162.77.
Advancers led decliners 2 to 1 on the New York Stock Exchange, with 2,303 up, 869 down and 192 unchanged. Volume was 1.52 billion shares.
The NYSE composite index rose 8.50 to 603.11, the American Stock Exchange composite index rose 3.53 to 881.40 and the Russell 2000 index advanced 7.21 to 494.80.
The Treasury's 2-year note fell 1/32 to 99 2 2/32; its yield rose 3 basis points to 3.16 percent. The 10-year note lost 1 2/32 to 98 20/32; its yield gained 5 basis points to 5.05 percent. The 30-year bond fell 25/32 to 97 19/32; its yield gained 6 basis points to 5.54 percent.
The blue-chip rally started early in the session on a report from the Commerce Department that showed orders to U.S. factories rose by 1.6 percent in January, lifted by stronger demand for cars, computers and machinery. The news was the latest indication that the country is emerging from recession.
Tech stocks meandered until late in the day, when a Federal Reserve released a survey of nationwide business activity suggesting that signs of a recovery became more widespread in January and early February.