US stocks rise, breaking a three-day slump

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Associated Press

Posted on January 7, 2014 at 10:01 AM

Updated Tuesday, Jan 7 at 10:05 AM

NEW YORK (AP) — Stocks are opening higher on Wall Street after a three-day slump that marked the worst start to a year since 2005.

The Dow Jones industrial average was up 94 points, or 0.6 percent, to 16,521 in the first few minutes of trading Tuesday.

The Standard & Poor's 500 index was up eight points, or 0.5 percent, to 1,834. The Nasdaq composite was up 21 points, or 0.5 percent, at 4,134.

If the S&P 500 closes higher Monday it will be its first gain of the New Year.

Micron Technology rose 5 percent. The chip maker, one of the biggest gainers in the S&P 500 last year, reports earnings after the closing bell.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.95 percent.

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