Stocks edge higher after a big two-day rally

CarMax shares jump on a strong earnings report

Major stock indexes are creeping higher on Friday as the market comes off a massive two-day rally spurred by the Federal Reserve's assurance that it was in no hurry to hike interest rates.

U.S. stocks are edging higher as the market comes off a massive two-day rally.

The market closed out its second-best week of the year Friday.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to 2,070. It rose 3.4 percent for the week.

The Dow Jones industrial average rose 26 points, or 0.2 percent, to close at 17,804. The Nasdaq composite added 17 points, or 0.4 percent, to 4,765.

CarMax jumped 11 percent after the used car dealership chain reported a surge in earnings. Nike fell 2 percent after reporting a drop in orders from Japan and developing markets in Asia.

Crude oil surged $2.36 to $56.52 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.17 percent.

Copyright © 2016, Los Angeles Times
51°