Stocks Edge Up after Dow Hits 16000

U.S. stocks inched higher at the open on Friday after the Dow Jones Industrial Average closed above
16,000 for the first time. The Dow lately dropped 30.54 points, or 0.19%, to 15,979.45. The S&P
500 gained 1.02 points, or 0.06%, to 1,794.83 and the Nasdaq Composite rose 4.93 points, or 0.12%,
to 3,974.08.

Pretium Resources Inc. (PVG), the Canadian miner developing the Valley of the Kings gold discovery
in British Columbia, jumped the most since it started trading almost three years ago after saying
the gold recovered from an ore sample exceeded its target. Pretium produced 4,215 ounces of gold
from 8,090 metric tons of rock, the Vancouver-based company said today in a statement.

Volkswagen (GER:VOW3), Europe’s biggest carmaker, will keep spending on upgrading and expanding
its range of models in the years ahead, despite lowering planned investment in other areas to
offset rising costs. The German company will dedicate over two thirds of overall planned
investment of 84.2 billion euros (£70 billion) through 2018 to vehicles and technology, it said on
Friday.

Charter Communications Inc. is nearing an agreement with banks to borrow money for a bid for Time
Warner Cable Inc., according to people familiar with the situation—a sign that the scrappy cable
operator’s effort to engineer a combination of the two companies may be moving into high gear.