U.S. stocks flip between small gains and losses

Verizon jumps on Buffett investment

5/16/2014
ASSOCIATED PRESS
  • Wall-Street-685

    Trader Ryan Falvey, left, works on the floor of the New York Stock Exchange Friday, May 16, 2014. The stock market is little changed in early trading following sharp declines the previous day. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

    • NEW YORK — The stock market is flipping between minor gains and losses, a day after the Dow Jones industrial average plunged.

    The Dow edged up four points to 16,450 as of noon today. The blue-chip index had its worst day in five weeks on Thursday, when Wal-Mart reported lower earnings and economic news was mixed.

    The Standard & Poor’s 500 index was up less than a point to 1,871 today. The Nasdaq fell nine points to 4,060.

    Verizon Communications rose the most of the 30 big companies in the Dow. Verizon gained $1.27, or 3 percent, to $49.23 after Warren Buffett’s Berkshire Hathaway revealed it had a new investment in the telecom company.

    Bond prices fell, pushing up the yield on the Treasury’s 10-year note to 2.50