US stocks drift as corporate profits disappoint
Published: October 9, 2013 08:36AM
Updated: October 9, 2013 02:37PM
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FILE - In this Monday, June 3, 2013, file photo, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve System, answers a question from a participant at the International Monetary Conference in Shanghai, China. President Barack will nominate Yellen to replace Federal Reserve Chairman Ben Bernanke. (AP Photo/Eugene Hoshiko, File )

New York • Stocks are closing mostly higher on early signs of progress on ending a budget stalemate in Washington.

President Barack Obama is making plans to talk with Republican lawmakers at the White House in the coming days as pressure builds on both sides to resolve their deadlock over the federal debt limit and the partial government shutdown.

The Dow Jones industrial average rose 26 points, or 0.2 percent, to close at 14,803 Wednesday.

The Standard & Poor’s 500 rose a point, or 0.1 percent, at 1,656. The Nasdaq composite fell 17 points, or 0.5 percent, to 3,677.

Rising and falling stocks were evenly split on the New York Stock Exchange. Volume was higher than average at 3.6 billion shares.