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U.S. stocks edge higher, extending a rally

Published February 12, 2014 8:40 am

This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

New York • U.S. stocks edged higher on Wednesday, extending the market's longest rally this year. Stocks jumped a day earlier after Federal Reserve Chair Janet Yellen said she would continue the central bank's market-friendly, low-interest rate policies.

KEEPING SCORE: The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,822 as of 10:06 a.m. Eastern Time. The Dow Jones industrial average was up 21 points, or 0.1 percent, at 16,016. The Nasdaq composite rose 12 points, or 0.6 percent, to 4,203.

ONE TO WATCH: Fossil jumped $7.85, or 6.7 percent, to $124.81 after the watch and accessories company posted earnings that topped Wall Street expectations for the quarter and issued a strong financial outlook for the year.

HEALTHY PROFIT: DaVita HealthCare Partners jumped $3.80, or 5.9 percent, to $68.13, a day after the kidney dialysis provider said it reached an agreement to resolve a government investigation and reported fourth-quarter income that soared 36 percent and topped analyst expectations.

THE RALLY: The stock market appears to have put its concerns about slowing growth in emerging markets behind it for now. The S&P 500 index has risen for four straight days.

TREASURYS AND COMMODITIES: The yield on the 10-year Treasury note climbed to 2.75 percent from 2.73 percent on Tuesday. Oil rose $1.15, or 1.2 percent, to $101.09 a barrel. The price of gold was little changed at $1,288.40 an ounce.