Around the World's Markets: New York

STOCKS MOVED higher in late morning trading, buoyed by a report that consumers did not slow their spending in May, with the Dow Jones industrial average bouncing back from Monday's 175-point tumble to climb 82.30 points, or 0.77 per cent, at 10,736.97.

The Conference Board reported that a robust job market and low inflation pushed consumer confidence higher in May for the seventh month running, the longest consecutive rise in the survey's 32-year history.