Stocks edged up yesterday on several new rounds of data that fed optimism about the US economy's turnaround, closing out the second consecutive week of gains for the broad stock market.
For the week, the Dow rose 1 per cent, the Nasdaq added 2.1 per cent and the S&P 500 gained 1.4 per cent.
Year to date, the Dow has dropped 6 per cent, the Nasdaq is down 19.6 per cent and the S&P 500 has given up more than 12 per cent.
Early in the day, separate reports showed the hammered-down manufacturing sector may be on the rebound, consumer confidence has improved and first-time jobless claims rose less than expected - all positive signs for the economy.
Among the reports, the Conference Board's closely watched consumer confidence index rose for the first time in six months in December, surging to 93.7, and November's reading was revised up to 84.9 from a seven-year low of 82.2.
Yahoo! rose 53 cents, or nearly 3 per cent, to $18.30 and Overture Services rose $2.095 to $36.66.
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