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US stocks move higher in midday trading after a 2-day slide; CarMax jumps on higher profit

NEW YORK, N.Y. – U.S. stocks are edging higher in midday trading as the market shakes off two days of losses.

CarMax jumped 8 per cent Thursday after reporting that its profit rose sharply in the latest quarter as purchases of used vehicles increased.

The Dow Jones industrial average rose 53 points, or 0.3 per cent, to 17,752 as of 11:45 a.m. Eastern time.

The Standard & Poor’s 500 index gained seven points, or 0.4 per cent, to 2,066. The Nasdaq composite increased seven points, or 0.2 per cent, to 4,887.

Nine of the 10 industry sectors in the S&P 500 index rose.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.91 per cent.

U.S. markets will be closed Friday for the Good Friday holiday.