Stocks edged up on Friday, as Saudi Arabia's call for higher oil production quotas drove oil prices below $40 a barrel and reassured investors who worried that soaring oil prices could derail the recovering US economy.
Alcoa Inc led the blue-chip Dow's percentage gainers after the aluminium producer said it cut jobs at a Mexican affiliate.
The Dow Jones industrial average rose 43 points, or 0.43 percent, to 9,981. The Standard & Poor's 500 Index added 4 points, or 0.40 percent, to 1,094. The technology-laced Nasdaq Composite Index gained 8 points, or 0.43 percent, to 1,905.
Comments
Comments are closed.