NEW YORK (AP) — Stocks are rising following news that activity expanded in the U.S. services sector last month.
World markets also rose Tuesday after the central bank of Japan suprised investors by slashing interest rates to near zero. Japanese shares jumped 1.5 percent, and European stocks also rose.
The Institute for Supply Management reported that the U.S. services industry grew slightly faster in September as demand from customers improved. It was the ninth straight month of expansion.
In midday trading, the Dow Jones industrial average is up 172 points, or 1.6 percent, to 10,923.
The Standard & Poor’s 500 index rose 22, or 1.9 percent, to 1,158. The Nasdaq composite rose 50, or 2.1 percent, to 2,394.
