Stocks Finished Mostly Higher

U.S. stocks closed mostly higher on Wednesday, recovering from sharp intraday declines as gains in energy offset earlier pressures from growth concerns. The Dow Jones Industrial Average was down 0.33 points at 17,402.51. The S&P 500 was up 1.98 points, or 0.10%, at 2,086.05. The Nasdaq Composite gained 7.60 points, or 0.15%, at 5,044.39.

Cisco Systems Inc’s quarterly revenue rose nearly 4 percent, helped by demand for its switching equipment and routers. The company’s net income rose to $2.32 billion, or 45 cents per share, in the quarter ended July 25 from $2.25 billion, or 43 cents per share, a year earlier. Revenue rose to $12.84 billion from $12.36 billion.

The U.S. oil benchmark finished modestly higher Wednesday after an upbeat demand estimate from a global energy watchdog. On the New York Mercantile Exchange, light, sweet crude futures for delivery in September rose 22 cents, or 0.5%, to settle at $43.30 a barrel.

About the Author

has written 15521 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks