Encouraging news about the U.S. economy sent the stock market to its third straight gain Thursday.
Consumer spending rose last month as incomes increased, claims for unemployment benefits fell last week and the number of pending home sales jumped in May to the highest level in more than six years. Investors were also encouraged after the yield on the 10-year Treasury note stabilized below 2.50 percent after surging earlier in the week.
The Dow Jones industrial average rose 114.35 points, or 0.8 percent, to 15,024.49.
The Standard & Poor's 500 rose 9.94 points, or 0.6 percent, to 1,613.20.
The Nasdaq composite index rose 25.64 points, or 0.8 percent, to 3,401.86.
For the week so far:
The Dow is up 225.09 points, or 1.5 percent.
The S&P 500 is up 20.77 points, or 1.3 percent.
The Nasdaq composite is up 44.61 points, or 1.3 percent.
For the year so far:
The Dow is up 1,920.35 points, or 14.7 percent.
The S&P 500 is up 187.01 points, or 13.1 percent.
The Nasdaq composite is up 382.35 points, or 12.7 percent.
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