U.S. stock prices moved quietly higher Monday as investors decided to step back into a market that was rattled by turbulence last week. A decline in IBM held back a gain in the Dow Jones industrial average. IBM fell 7 per cent after it reported quarterly results that missed analysts’ expectations. The company also cut its earnings outlook.
The Dow rose 19.26 points, or 0.1 per cent, to 16,399.67.
The Standard & Poor’s 500 index rose 17.25 points, or 0.9 per cent, to 1,904.01.
The Nasdaq composite gained 57.64 points, or 1.4 per cent, to 4,316.07.
For the year:
The Dow is down 176.99 points, or 1 per cent.
The S&P 500 index is up 55.65 points, or 3 per cent.
The Nasdaq is up 139.48 points, or 3.3 per cent.