New York, NY (AP) - Stocks are posting meager gains as traders
remain cautious ahead of a global economic summit in South Korea.
Major indexes were down for much of the day but managed to edge
higher by late afternoon. A report showing a sharp decline in
first-time claims for unemployment benefits helped support stock
prices.
According to preliminary calculations, the Dow Jones industrial
average rose 10, or 0.1 percent, to close at 11,357. The Dow had
been down as many as 92 points.
The S&P 500 index added 5, or 0.4 percent, to 1,219, and the
Nasdaq rose 16, or 0.6 percent, to 2,579.
Gaining shares outnumbered falling ones three to two on the New
York Stock Exchange, where volume came to 1.1 billion shares.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
