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July 19, 2012

US stocks creep up; IBM, other tech stocks rise

From The Associated Press

NEW YORK — Strong earnings from IBM and other technology companies are helping the stock market close higher for the third day straight.

The Dow Jones industrial average rose 35 points to 12,943 on Thursday.

IBM was the Dow’s top stock. The technology giant surged 4 percent after it posted a jump in profits late Wednesday. Big banks and financial firms were mostly lower, following poor earnings from American Express and Morgan Stanley.

The Standard & Poor’s 500 index inched up four points to 1,377. The Nasdaq gained 23 points to 2,966.

The Dow is now up 1.3 percent for the week, the S&P 500 index 1.5 percent.

Rising stocks outpaced falling ones by a small margin on the New York Stock Exchange. Trading volume was higher than average at 3.9 billion.

 

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