Stocks, bond yields edge higher in early trade
New York » Stocks and bond yields are slightly higher in early trading as investors continue to feel confident about the U.S. economy as 2013 winds down.
The Dow Jones industrial average rose 30 points, or 0.2 percent, to 16,510 early Friday.
The Standard & Poor’s 500 index rose two points, or 0.1 percent, to 1,843. The Nasdaq composite was flat at 4,166.
General Motors fell 1 percent after saying it would have to recall 1.5 million cars in China.
Bond price fell. The yield on the 10-year Treasury note rose above 3 percent, a level it hasn’t traded above consistently since July 2011.
Bond yields have been climbing since November as investors become more confident about the economy and as the Federal Reserve gets ready to reduce its bond purchases.