Stocks edge higher; breaking slump
NEW YORK — A weak showing in home sales and a mixed batch of earnings reports kept stocks flipping between minor gains and losses on Wall Street. By the end of the day, the major indexes managed to eke out their second day of gains this week.
A strong profit report from Procter & Gamble helped indexes start higher early Thursday, but stocks weakened in late morning trading after a realtor group said that the pace of contracts for new home sales had leveled off.
The Dow Jones industrial average gained 26.34 points to close at 13,103.68.
In other trading, the Standard & Poor’s 500 rose 4.22 points to 1,412.97 and the Nasdaq gained 4.42 points to 2,986.12.