Stocks edge higher; Molson Coors jumps on earnings, Sprint drops after abandoning deal

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NEW YORK, N.Y. – U.S. stocks are closing slightly higher, led by a rebound in consumer staples stocks.

The market had fallen to its lowest level since May a day earlier, when Russia massed troops near its border with Ukraine.

The Dow Jones industrial average rose 14 points, or 0.1 per cent, to close at 16,443 Wednesday.

The Standard & Poor’s 500 index rose a fraction to end at 1,920. The Nasdaq composite rose two points, or 0.1 per cent, to 4,355.

Molson Coors rose 6 per cent after the company said its second-quarter profit rose 9 per cent. Better pricing offset a global decline in the volume of beer sales.

Sprint plunged 19 per cent after the company abandoned its pursuit of T-Mobile US.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.47 per cent.

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