Stocks: Market mostly higher on signs of economic growth
BY PALLAVI GOGOI AP Business Writer
Wednesday, August 15, 2012
NEW YORK — Stocks are finishing mostly higher on Wall Street following more signs that the U.S. economic recovery is advancing, albeit at a slow pace.
The Dow Jones industrial average fell seven points to 13,165 on Wednesday. The broader S&P 500 index was up two points at 1,406, while the Nasdaq composite rose 14 points to 3,031.
U.S. industrial production increased last month as factories produced more cars, computers and airplanes. It was the latest sign of economic improvement after a weak spring, starting with slightly better job growth in July and a small pickup in retail spending.
Gaining stocks outnumbered losing ones almost two to one. Volume was lower than average, with 2.6 billion shares changing hands on the New York Stock Exchange.