State and Nation Business

U.S. stocks rise for a second day; yields slip

NEW YORK – The stock market is closing higher for the second day in a row.

The Dow Jones industrial average rose 149 points, or 1 percent, 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 percent, to 1,603. All 10 industry sectors in the S&P rose.

The Nasdaq composite index rose 28 points, or 0.9 percent, to 3,376.

Investors also bought bonds, sending the yield on the 10-year Treasury note down to 2.55 percent.

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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