Policy: Economy

US stocks rise, post meager gain for 1st quarter

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Photo - Trader Joel Luccese, center, works on the floor of the New York Stock Exchange Friday, March 28, 2014. After two days of declines, stocks were moving higher in early trading Friday following news that U.S. consumer spending rose the most in three months in February. (AP Photo/Richard Drew)
Trader Joel Luccese, center, works on the floor of the New York Stock Exchange Friday, March 28, 2014. After two days of declines, stocks were moving higher in early trading Friday following news that U.S. consumer spending rose the most in three months in February. (AP Photo/Richard Drew)
News,Business,Economy

NEW YORK (AP) — U.S. stocks are closing higher as the market posts a meager gain for the first three months of the year.

The Standard & Poor's 500 index rose eight points, or 0.5 percent, to close at 1,872 Monday. The index gained 1.3 percent for the first quarter of the year, the fifth straight quarterly gain.

The Dow Jones industrial average rose 134 points, or 0.8 percent, to 16,457. The Nasdaq composite rose 43 points, or 1 percent, to 4,199.

Microsoft rose 2 percent after its Office for iPad software was released last week to highly positive reviews.

Traders were encouraged by remarks from Federal Reserve Chair Janet Yellen, who said she thinks the U.S. job market should continue to be supported by low interest rates for some time.

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