Stocks Closed Marginally Higher

U.S. stocks ended marginally higher on Wednesday, as the energy sector rebounded. The Dow Jones Industrial Average gained 13.87 points, or 0.08%, to 16,443.34. The S&P 500 was up 0.03 point, to 1,920.24. The Nasdaq Composite added 2.22 points, or 0.05%, to 4,355.05.

The U.S. trade deficit narrowed more than expected in June amid a sharp decline in imports, a development that’s likely to boost economic-growth readings but raises a concern about domestic demand. The U.S. trade deficit shrank 7% to a seasonally adjusted $41.54 billion in June from May, the Commerce Department said Wednesday.

Bank of America Corp. (BAC) will raise its quarterly dividend above a penny for the first time in more than five years after getting a green light from the Federal Reserve, a milestone in its recovery from the financial crisis.

Chrysler remained on the comeback trail with a 22 percent second-quarter profit increase, but U.S. investors may not get a chance to buy shares of the company if a planned merger with Fiat gets scuttled. Chrysler reported a relatively strong performance for the quarter, with profits fueled by rising U.S. sales. The company made $619 million, compared with $507 million a year ago. Revenue rose 14 percent to $20.5 billion.

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