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US stocks move higher after holiday weekend

May 27, 2014

NEW YORK (AP) — The U.S. stock market is moving higher as traders return from a long holiday weekend.

Investors were encouraged by a report that orders for big-ticket items unexpectedly rose last month and an increase in consumer confidence.

The Standard & Poor’s 500 index rose eight points, or 0.4 percent, to 1,908 as of midday Eastern Time Tuesday.

The Dow Jones industrial average rose 64 points, or 0.4 percent, to 16,671. The Nasdaq composite rose 36 points, or 0.9 percent, to 4,222.

U.S. markets were closed Monday for Memorial Day.

Hillshire Brands, the maker of Jimmy Dean breakfast sausage, jumped 22 percent after poultry producer Pilgrim’s Pride offered to acquire the company.

The yield on the 10-year Treasury note held steady at 2.53 percent.

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