Stocks drift higher; S&P 500 holds on to 2,000

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Posted: Wednesday, August 27, 2014 4:12 pm

Stocks are drifting mostly higher as a main U.S. index sets a record for a third day in a row.

The Standard & Poor's 500 eked out a gain of one-tenth of a point, enough to set another all-time high. The index closed at 2,000.12 points, a day after its first close above 2,000.

The Dow Jones industrial average rose 15 points, or 0.1 percent, to 17,122. The Nasdaq composite edged down a point to 4,569.

Trading was quiet ahead of the Labor Day holiday weekend in the U.S. with many investors away on vacation. Trading volume was about one-third below average.

Express rose 13 percent after the clothing retailer's results beat financial analysts' expectations.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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