Stocks Close Higher After Early Losses

Dow ends day up 56
By Newser Editors and Wire Services
Posted Aug 29, 2017 3:11 PM CDT
Stocks Close Higher After Early Losses
Trader George Ettinger works on the floor of the New York Stock Exchange, Wednesday, Aug. 16, 2017.   (AP Photo/Richard Drew)

(Newser) – After steep early losses, US stocks are closing higher as technology and industrial companies get a lift from the weaker dollar, the AP reports. The dollar traded at two-year lows Tuesday, which helps companies that make a lot of their sales and profits overseas. Apple rose 0.9% and Raytheon climbed 2.2%. Investors looked for safe investments after North Korea fired a ballistic missile over Japan and into the Pacific Ocean. Bond prices rose and yields fell. Banks declined along with interest rates. M&T Bank lost 1.2%. The Standard & Poor's 500 index added 2 points, or 0.1%, to 2,446. The Dow Jones industrial average picked up 56 points, or 0.3%, to 21,865. The Nasdaq composite rose 18 points, or 0.3%, to 6,301. (Read more stock market stories.)

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