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Print Print edition: 2011-09-24

Friday's midday trade: Wall Street rises

Published Updated

US stocks edged higher on Friday on talk the European Central Bank might add liquidity to shore up the region's vulnerable banking system but persisting worries about a global recession kept markets volatile. Concerns about the sovereign debt crisis in Europe have contributed to recent equity losses, with both the Dow and S&P off more than 6 percent, and the Nasdaq down more than 5 percent this week.
The Dow Jones industrial average was down 3.52 points, or 0.03 percent, at 10,730.31. The Standard & Poor's 500 Index was up 3.79 points, or 0.34 percent, at 1,133.35. The Nasdaq Composite Index was up 14.58 points, or 0.59 percent, at 2,470.25. Despite its losses this week, the S&P was above an August 8 low of 1,119, which technical analysts view as a support level. Gains in the Nasdaq were helped by strength in Internet names Yahoo Inc, up 4 percent to $14.52, and Ctrip.com International Ltd, adding nearly 5 percent to $34.26.

Copyright Reuters, 2011

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