FAIRFIELD-SUISUN, CALIFORNIA

Business

US stocks creep higher following earnings news

By From page B11 | August 15, 2014

NEW YORK — Better corporate earnings helped nudge the stock market up on Thursday in one of the quietest sessions this year.

Health-care companies led the major indexes to slight gains, while Berkshire Hathaway crossed another milestone, trading above $200,000 a share for the first time.

With many who work in the markets on vacation, trading volume on the New York Stock Exchange thinned out: just 2.6 billion shares on Thursday. An average day this year is nearly 1 billion higher.

Stronger profits for Perrigo, a drugmaker, drove its stock up 7 percent, the biggest gain in the Standard & Poor’s 500 index. Perrigo jumped $10.14 to end at $149.29. Another drugmaker, Merck, gained 93 cents, or 2 percent, to $58.78 following news that it won federal approval for a new sleeping pill.

The S&P 500 climbed up 8.46 points, or 0.4 percent, to close at 1,955.18. Health care companies led nine of the 10 industry groups in the S&P 500 up.

The Dow Jones industrial average rose 61.78 points, or 0.4 percent, to 16,713.58 while the Nasdaq composite climbed 18.88 points, or 0.4 percent, to 4,453.00.

 

The Associated Press

The Associated Press

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