US stocks end slightly higher after day of wavering between gains and losses

5/16/2014
ASSOCIATED PRESS
  • Wall-Street-Jumei-1

    CEO Leo Ou Chen of Jumei.com rings a ceremonial bell on the floor of the New York Stock Exchange as his company's IPO begins trading, Friday, May 16, 2014. The Beijing, China-based online beauty retailer, Jumei.com, s China’s No. 1 online retailer of beauty products as measured by gross merchandise volume. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

    • NEW YORK — The stock market ended slightly higher today after drifting between small losses and gains for most of the day.

    The Dow Jones industrial average rose 44 points, or 0.3 percent, to close at 16,491.

    The Standard & Poor’s 500 index gained seven points, or 0.4 percent, to end at 1,877. The Nasdaq composite index rose 21 points, or 0.5 percent, to 4,090.

    Telecommunication stocks rose the most of the 10 sectors in the S&P 500 index. Verizon climbed $1.11, or 2.3 percent, to $49.07 after Warren Buffett’s Berkshire Hathaway revealed it had a new investment in the company.

    Bond prices fell, pushing up the yield on the Treasury’s 10-year note to 2.52 percent.