Thursday's midday trade: S&P 500 tops 50-day moving average

Wall Street rose for a fourth consecutive session on Thursday in an end-of-quarter rally that was boosted by a surprisingly strong economic report covering the US Midwest. The major stock indexes rose 1 percent, including the benchmark S&P 500, which climbed above its 50-day moving average at 1,317 despite analysts' expectations it would meet resistance.
The Dow Jones industrial average was up 139.60 points, or 1.14 percent, at 12,401.02. The Standard & Poor's 500 Index was up 12.60 points, or 0.96 percent, at 1,320.01. The Nasdaq Composite Index was up 31.47 points, or 1.15 percent, at 2,771.96. The S&P 500 is down less than 1 percent this quarter, while the Dow is up 0.5 percent and the Nasdaq is off 0.5 percent.