US indexes move higher; Amazon gains, Macy's drops

By the Associated Press | August 13, 2014 | 12:04 PM EDT

FILE - This July 15, 2013 file photo shows a sign for Wall Street outside the New York Stock Exchange, in New York. Global stock markets overcame a contraction in Japan's economy and jitters about Ukraine and Iraq to mostly rise Wednesday, but analysts said new geopolitical developments would likely make for volatile trading. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — Stocks are moving higher in midday trading, bringing the Dow Jones industrial average back into the black for the year.

Amazon led the way up in light trading, despite a mixed batch of economic news and a contraction in Japan's economy.

Amazon rose 3 percent after the online retailing giant introduced a credit-card processing device designed to help small businesses.

Macy's fell 5 percent after its own results fell short of forecasts.

The Standard & Poor's 500 index rose 12 points, or 0.7 percent, to 1,946 at midday.

The Dow Jones industrial average rose 93 points, or 0.6 percent, to 16,653. The Nasdaq rose 40 points, or 0.9 percent, to 4,429.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.42 percent.