US stock market closes higher as traders shrug off global concerns; Amazon gains, Macy's drops

Technology and health care companies are helping U.S. stocks close higher, despite a mixed batch of economic news and a pullback in Japan's economy.

Amazon rose 2.2 percent Wednesday after the online retailing giant introduced a credit-card processing device designed to help small businesses.

Macy's fell 5.5 percent after it cut its sales outlook for the year.

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

The Dow Jones industrial average rose 91 points, or 0.6 percent, to 16,651. The Nasdaq rose 44 points, or 1 percent, to 4,434.

The yield on the 10-year Treasury note fell to 2.41 percent. Bond yields fall when prices rise.