Wall Street rose but was trapped in a tight trading range on Wednesday as investors, without a positive catalyst, hesitated after a recent run-up. Energy and technology shares were among the top decliners, pressured by a fall in crude oil prices and bearish analyst comments. Despite that, the S&P seemed to find support at its 200-day moving average, rebounding above the 1,115 level after briefly falling through it.
On the upside, Kraft Foods Inc, another Dow component, gained 1.4 percent to $31.50 after saying it would squeeze another $1 billion in revenue from its global business by 2013 as its North American business faces challenges. The Dow Jones industrial average rose 28.84 points, or 0.27 percent, at 10,555.33. The Standard & Poor's 500 Index added 1.20 points, or 0.11 percent, at 1,122.30. The Nasdaq Composite Index was up 7.16 points, or 0.31 percent, at 2,296.93.
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