Stocks rise, breaking a six-day losing streak

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Associated Press

Posted on August 22, 2013 at 9:00 AM

Updated Thursday, Aug 22 at 9:06 AM

NEW YORK (AP) — Encouraging news about manufacturing overseas sent the U.S. stock market higher, breaking a six-day losing streak.

The Dow Jones industrial average rose 48 points, or 0.3 percent, to 14,946 as of noon Thursday.

The broader Standard & Poor's 500 index climbed 11 points, or 0.7 percent, to 1,653. The Nasdaq composite gained 33 points, or 0.9 percent, to 3,633.

China's manufacturing stabilized in August, and in Europe, a report showed that the manufacturing and service sectors are improving.

Stocks of U.S. retail chains are falling after more weak sales reports.

Abercrombie & Fitch plunged $8.50, or 18 percent, to $38.30.

Hewlett-Packard fell $3.20, or 13 percent, to $22.18 after the company reported poor demand for personal computers.

The yield on the 10-year Treasury note rose to 2.91 percent.

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