Loading…
Thursday, July 10, 2014
Current Weather
Loading Current Weather....
Published: Thursday, 5/30/2013

Financial companies, utilities lead stocks higher in midday trading on Wall Street

ASSOCIATED PRESS

NEW YORK — Banks and utility companies led stocks higher in midday trading on Wall Street as the market bounced back from a decline the day before.

Two lackluster reports on the U.S. economy eased investor concerns that the Federal Reserve might ease its economic stimulus program.

Utility stocks were higher after a company owned by Warren Buffett’s Berkshire Hathaway acquired a Nevada-based power company for $5.6 billion.

The Dow Jones industrial average was up 73 points at 15,376 shortly before noon today, an increase of 0.5 percent.

The Standard & Poor’s 500 was up 10 points at 1,658, or 0.6 percent. The Nasdaq composite rose 27 points to 3,494, or 0.8 percent.

Clearwire, a wireless network operator, surged 24 percent after Dish Network raised its bid for the company.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories