Stocks edge higher, breaking a weeklong slump
NEW YORK (AP) — Stocks are closing modestly higher after a handful of decent corporate earnings reports were enough to break a weeklong slump in the market.
The Dow Jones industrial average managed a gain of 26 points, ending the day at 13,104 Thursday. It spent most of the afternoon near the breakeven line.
The Standard & Poor's 500 index edged up four points to 1,413 and the Nasdaq composite also rose four to end at 2,986.
Procter & Gamble was the biggest gainer in the Dow after the consumer products company, whose products include Tide, Gillette and Charmin, reported earnings that beat analysts' expectations.
Three stocks fell for every one that rose on the New York Stock Exchange. Volume was in line with the recent average at 3.4 billion shares.