Stocks Shake Off Spain Fears

After opening amid tentatively, Wall Street ticked higher Wednesday morning as the bulls look to wave off concerns about Spain's credit rating and instead focus on improving economic indicators. Today's Markets As of 10:35 a.m. ET, the Dow Jones Industrial Average rose 25.77 points, or 0.22%, to 11502.43, the Standard & Poor's 500 gained 1.35 points, or 0.11%, to 1242.94 and the Nasdaq Composite jumped 10.07 points, or 0.38%, to 2637.74. The FOX 50 added 0.99 points, or 0.11%, to 890.17. While the euro initially fell after Moody's warned it may need to downgrade Spain's credit rating, the currency pared its losses. That shifted the attention to the domestic economy, especially a stronger-than-expected regional manufacturing report. The mini rally on Wall Street comes after the Dow closed solidly higher on Tuesday and at its highest level since September 2008. However, the broader markets lost most of their gains amid slumping Treasurys, marking stocks' second-straight late-day fizzle. Most Dow stocks advanced in recent trading, led by economically-sensitive Caterpillar CAT and 3M MMM. The index's weakest members were Wal-mart WMT and IBM IBM. Continue reading the article.