Friday, Jul 29, 2016
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Stock Market

S&P 500 finishes higher to snap 3-day skid; Intel jumps on stronger revenue forecast

NEW YORK -- The stock market closed higher today on corporate deal news and an improved forecast from chipmaker Intel.

The Standard & Poor’s 500 index rose six points, or 0.3 percent, to close at 1,936. The gain snapped a three-day losing streak for the index. The Dow Jones industrial average climbed 41 points, or 0.3 percent, to 16,775. The Nasdaq gained 13 points, or 0.3 percent, to 4,310.

Intel jumped 7 percent after the chipmaker said late Thursday that sales of business computers have been stronger than expected, and raised its revenue forecast.

Oil added to gains from earlier in the week. Crude is rising because Iraq’s insurgency threatens to disrupt crude exports. Oil edged up 38 cents to $106.91 a barrel after rising more than $2 the day before.

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