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US stocks drift as corporate profits disappoint

Published October 9, 2013 8:36 am

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

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.