Blue chip stocks moved higher in New York yesterday, rallying in the wake of more encouraging news that left investors optimistic that the US economy is indeed slowing down.
The Dow Jones industrial average closed up 80.58 at 10,687.53.
The Standard and Poor's 500 index was up just 0.60 at 1,438.70 but the Nasdaq composite index gave back some earlier gains and closed down 27.06 at 3,658.46.
Advancing issues were ahead of decliners by a 5 to 4 margin on the New York Stock Exchange, where volume came to 983.05 million shares, ahead of Tuesday's pace.
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The Russell 2000 index was up 2.45 at 500.22.
Interest rate sensitive Dow stocks surged after the Conference Board reported that its leading economic indicators were unchanged in June.
