The Clinton Herald, Clinton, Iowa

Business & Technology

August 30, 2013

Stocks post mild gains on economic data

NEW YORK (AP) — Positive news on the U.S. economy outweighed worries about Syria Thursday, sending the stock market higher for a second straight day.

The Dow Jones industrial average added 16.44 points, or 0.1 percent, to 14,840.95, while the Standard & Poor’s 500 index rose 3.2 points, or 0.2 percent, to 1,638.17. The Nasdaq composite posted a bigger gain, rising 27 points, or 0.8 percent, to 3,620.30.

The Dow has gained 64 points over the past two days, not nearly enough to make up for its 170-point loss Tuesday as tensions over Syria rattled markets.

Verizon Communications was the biggest gainer among the blue chips after Britain’s Vodafone confirmed it was in talks with Verizon to sell its 45 percent stake their joint venture, Verizon Wireless.

Verizon rose $1.26, or 2.7 percent, to $47.82. The U.S.-listed shares of Vodafone rose $2.39, or 8.1 percent, to $31.80.

While many fund managers said they’re not looking to jump back into the market just yet, some individual companies are looking attractive again.

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