NEW YORK — Investors are showing optimism about an economic recovery and extending the stock market’s latest rally.

Major stock indicators are up more than 0.5 percent at midday, following big gains in overseas markets. Oil and other commodities are higher, while Treasury prices are rising ahead of the government’s latest round of auctions.
Investors have been encouraged by Federal Reserve Chairman Ben Bernanke’s declaration Friday that the economy is on the verge of recovery. However, reports this week on consumer confidence and housing could test the market’s upbeat mood.
The Dow Jones industrials are up 63 at 9,569, following a 155-point increase on Friday. The Standard & Poor’s 500 index is up 7 at 1,033, while the Nasdaq composite index is up 10 at 2,031.