Stocks Edge Up as Oil Slumps

Columbus Day is subdued after a wild week
By Newser Editors and Wire Services
Posted Oct 12, 2015 3:21 PM CDT
Stocks Edge Up as Oil Slumps
Specialists Glenn Carell, left, and David Haubner work on the floor of the New York Stock Exchange, Monday, Oct. 12, 2015.   (Richard Drew)

Stocks are closing higher as traders look ahead to a busy week for corporate earnings. The subdued trading Monday followed the best week for the market this year. Eli Lilly plunged 8% after saying it would abandon the development of a heart disease drug. EMC rose after Dell said it would buy the data storage company. The Dow Jones industrial average climbed 47 points, or 0.3%, to 17,131.

The Standard & Poor's 500 index rose two points, or 0.1%, to 2,017. The Nasdaq composite added eight points, or 0.2%, to 4,838. The price of oil fell as a report showed OPEC is keeping up production even after a big drop in prices over the last year. Bond trading was closed for Columbus Day.

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