U.S. stocks rise for second day as yields stabilize

4:30 pm ET Jun 14, 2007

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U.S. stocks rise for second day as yields stabilize

NEW YORK
U.S. stocks rallied for a second day on Thursday, as investors were
heartened that a stronger-than-expected 0.9% rise in May producer prices
failed to spook the bond market, keeping bond yields in check.
Mortgages: Rate on 30-year fixed mortgage jumps to 6.74%

CHICAGO
U.S. mortgage rates jumped this week as a sell-off in the Treasury
market pushed benchmark interest rates up sharply. Freddie Mac in its
weekly survey Thursday said the national average on the 30-year
fixed-rate mortgage hit 6.74%, up from 6.53% a week ago and the highest
level since July 2006.

Economic Report: Producer prices rise 0.9% on energy; food prices fall

WASHINGTON
Led by another big gain in energy prices, wholesale prices rose a
greater-than-expected 0.9% in May, the Labor Department reported
Thursday.