Stocks Build On Gains

As for the bond market, 10-year Treasury notes were down 16/32 in price to yield 4.16%. The 30-year was off 24/32, yielding 4.71%. The dollar was stronger against the euro and yen, but weaker vs. the pound.

Looking at economic data, weekly crude oil inventories declined by 1.6 million barrels, while gasoline inventories rose by 2.8 million barrels. Refinery utilization declined 2.4 percentage points to 87.1%. Later, the Federal Reserve will release its beige book, a summary of anecdotal economic information collected by each of the central bank's regional branches.

Abroad, global markets were stronger. The FTSE in London, the DAX in Frankfurt, Japan's Nikkei and Hong Kong's Hang Seng all climbed.

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