Stocks rise, breaking a six-day losing streak

Stocks rise on strong economic reports, breaking a losing streak; Retail's slump goes on

Associated Press
Nasdaq trading halts; stocks up on positive data
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In this Friday, Aug. 16, 2013 photo, trader Jonathan Niles works on the floor of the New York Stock Exchange. Encouraging news from Europe and China is sending U.S. stock futures higher, Thursday, Aug. 22, 2013, despite another round of bleak earnings reports from domestic retailers. (AP Photo/Richard Drew)

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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