The major indexes closed up today after erratic trading as bad news on industrial production and new negative forecasts failed to halt an end-of-week rally. The Dow gained 66.74 to 13,176.79, the Nasdaq climbed 18.73 to 2,637.24, and the S&P 500 closed at 1,458.74, up 7.59.
Industrial production fell 0.5% last month, and FedEx and Starbucks both dropped earnings forecasts, MarketWatch reports. A Fed governor fueled negativity by saying interest rates were low enough to weather the coming storm. Investors also waited for new Merrill Lynch CEO John Thain to write off gains, a move widely expected in the near future.