Stocks jump as industrial production rises

September 16, 2009 1:15:12 PM PDT
Stocks are higher for the third day as strength in industrial production gives investors new reason to wager that the economy is recovering. The Federal Reserve says industrial activity surged 0.8 percent in August. The central bank also revised its July figures to twice as much growth as originally reported.

Stocks are up eight of the past nine days and major indexes are at new highs for the year.

The Dow Jones industrial average is up 108 at 9,792. The Standard & Poor's 500 index is up 16 at 1,069. The Nasdaq composite index is up 31 at 2,133.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.6 billion shares compared with 1.5 billion Tuesday.

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