Stocks indexes close with small, cautious gains
Stocks rose cautiously Wednesday morning, March 9, 2016, on strong earnings reports. The day before trader William McInerney worked as the indexes slide. Credit: AP / Richard Drew
Stocks closed Wednesday with small, cautious gains, as investors were encouraged by several strong earnings reports.
THE NUMBERS: At the close on Wall Street, the Dow Jones industrial average was up 36.3 points, about 0.2 percent, at 17,000.4. The Standard & Poor’s 500 index climbed 10 points, about 0.5 percent, to 1,989.3. The Nasdaq composite increased 25.6 points, about 0.6 percent, to close at 4,674.4.
CRUDE ENERGY: About the same time, the price of U.S. benchmark crude oil was up $1.85, about 4.1 percent, at $38.35 per barrel in trading on the New York Mercantile Exchange. In London, the international benchmark, Brent crude, was up $1.20, about 3 percent, to $40.85 a barrel.
WHOLESALE INVENTORIES: U.S. wholesale businesses increased their stockpiles by the largest amount in five months, but their sales fell for the sixth time in the past seven months. The Commerce Department says inventories held by wholesale businesses rose 0.3 percent in January, the biggest increase since August.
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