Stocks edged higher after a report showed that hiring held up in December, keeping the Dow on track for its best week in more than six months.

The Dow Jones industrial average was up 16 points to 13,407 as of 1:22 p.m. EST Friday. It's up 3.6 percent for the week, putting it on track for its biggest weekly advance since June. The Standard & Poor's 500 index rose four points to 1,464 and is up 4.4 percent in the week, its biggest gain in more than a year. The Nasdaq was up less than a point at 3,101.

Stocks have surged this week after lawmakers passed a bill to avoid a combination of government spending cuts and tax increases that have come to be known as the "fiscal cliff." The law passed late Tuesday night averted that outcome, which could have pushed the economy back into recession. Continue reading "Markets head for big weekly gain after jobs report" →

A two-day rally in the stock market came to an end Thursday afternoon when an account of the Federal Reserve's last meeting revealed a split between bank officials over how long the Fed should keep buying bonds to support the economy.
The Dow Jones industrial average and the Standard & Poor's 500 index treaded water for much of the day, then slid into the red around 2 p.m. Eastern, after the Fed released the minutes from its December meeting.

The Dow ended with a loss of 21.19 points at 13,391.36.

The S&P 500 lost 3.05 points to 1,459.37 and the Nasdaq composite fell 11.70 to 3,100.57.

At last month's meeting of the Federal Reserve's policy-making committee, the central bank pledged to buy $85 billion of Treasurys and mortgage-backed bonds and also keep a benchmark interest rate near zero until the unemployment rates drops below 6.5 percent. Continue reading "Stocks fade after Fed discloses split on stimulus" →

The stock market crept higher in midday trading Thursday, one day after the Dow Jones industrial average posted its biggest gain in more than a year.

Retailers reported mixed sales and the prospect of a new budget battle in Congress loomed.

The Standard & Poor's 500 index inched up one point to 1,463 and the Nasdaq composite rose four points to 3,116.

UnitedHealth Group held back the Dow, sinking $1.65 to $52.88, a 3 percent drop, after analysts at Deutsche Bank and other firms cut their ratings on the insurer's stock. The Dow was up just seven points to 13,419 as of 12:22 EST.

"It's natural to relax a bit after such a huge day as yesterday," said Lawrence Creatura, who manages a small-company fund at Federated Investors. Continue reading "Stocks tread water as next fiscal showdown looms" →