Saturday, October 30, 2010
Associated Press
NEW YORK
Stocks edged higher Friday to close out the best October for the Dow Jones industrial average in four years.
Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points, amid uncertainty over next week’s elections. News that the U.S. economy rose at just a 2 percent annual pace in the three months ending in September had little effect on stock prices.
The Dow Jones industrial average rose 4.54, or 0.1 percent, to close at 11,118.49. The Standard and Poor’s 500 Index fell 0.52, or 0.1 percent, to 1,183.26, while the technology- focused Nasdaq composite index rose less than a point to 2,507.41.
Every market index was up more than 3 percent for the month. The Nasdaq finished October with a 5.9 percent gain.
For the first time since April, major stock indexes have risen for two months in a row. The Dow and S&P are both up about 6 percent for the year, while the Nasdaq is up 10.5 percent.