US stocks edge higher, extending a rally

STEVE ROTHWELL

NEW YORK (AP) — U.S. stocks edged higher on Wednesday, extending the market's longest rally this year. Stocks jumped a day earlier after Federal Reserve Chair Janet Yellen said she would continue the central bank's market-friendly, low-interest rate policies.

KEEPING SCORE: The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,822 as of 10:06 a.m. Eastern Time. The Dow Jones industrial average was up 21 points, or 0.1 percent, at 16,016. The Nasdaq composite rose 12 points, or 0.6 percent, to 4,203.

ONE TO WATCH: Fossil jumped $7.85, or 6.7 percent, to $124.81 after the watch and accessories company posted earnings that topped Wall Street expectations for the quarter and issued a strong financial outlook for the year.

HEALTHY PROFIT: DaVita HealthCare Partners jumped $3.80, or 5.9 percent, to $68.13, a day after the kidney dialysis provider said it reached an agreement to resolve a government investigation and reported fourth-quarter income that soared 36 percent and topped analyst expectations.

THE RALLY: The stock market appears to have put its concerns about slowing growth in emerging markets behind it for now. The S&P 500 index has risen for four straight days.

TREASURYS AND COMMODITIES: The yield on the 10-year Treasury note climbed to 2.75 percent from 2.73 percent on Tuesday. Oil rose $1.15, or 1.2 percent, to $101.09 a barrel. The price of gold was little changed at $1,288.40 an ounce.