US stocks edge higher in unsteady trading, oil prices rise

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New York, Nov.29 (BNA): Stocks edged mostly higher in unsteady trading on Wall Street Tuesday, reports AP.

 

The S&P 500 rose 0.1% as of 10:19 a.m. Eastern after bobbing between small gains and losses throughout the morning.

 

 The Dow Jones Industrial Average was little changed at 33,850 and the Nasdaq fell less than 0.1%. Small-company stocks were mostly higher. The Russell 2000 rose 0.6%.

 

Energy stocks rose as U.S. crude oil prices climbed 2.4%. Valero rose 1%. Several big health care and technology stocks fell and weighed on the broader markets. UnitedHealth Group slipped 1% and Apple slipped 0.5%.

 

Bond yields gained ground. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.73% from 3.68% late Monday. Markets in Europe were mixed and markets in Asia rose broadly.

 

Wall Street’s big focus remains the Federal Reserve's fight against the hottest inflation in decades.

 

The central bank has been aggressively raising interest rates to make borrowing more difficult and tame high prices. The Fed’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March.

 

 

AHN