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US stocks move higher after solid earnings from Yahoo; Encouraging news on China economy

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Stocks are moving higher for a third day in a row after more U.S. companies report solid earnings and on encouraging news about China's economy.

Yahoo rose 6 percent after the Internet pioneer said it was benefiting from its lucrative investments in Asia.

PHOTO: FILE- In this Friday, June 29, 2012, file photo Specialists Frank Masello, left, and John T. O'Hara work on the trading floor of the New York Stock Exchange in New York shortly before the closing bell. World stock markets rose Wednesday April 16, 2014 as China's slowdown in the first quarter was less severe than expected.    (AP Photo/David Karp, File)
FILE- In this Friday, June 29, 2012, file photo Specialists Frank Masello, left, and John T. O'Hara work on the trading floor of the New York Stock Exchange in New York shortly before the closing bell. World stock markets rose Wednesday April 16, 2014 as China's slowdown in the first quarter was less severe than expected. (AP Photo/David Karp, File)

The Standard & Poor's 500 index rose 11 points, or 0.6 percent, to 1,854 as of noon Eastern time Wednesday.

The Dow Jones industrial average rose 107 points, or 0.7 percent, to 16,369 and the Nasdaq rose 24 points, or 0.7 percent, to 4,060.

Markets rose in Asia and Europe after China reported that its economy slowed less than many had feared in the first quarter.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent.

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