U.S. stocks flip between small gains and losses

Verizon jumps on Buffett investment

5/16/2014
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