FILE - In this Feb. 8, 2013 file photo. Trader Peter Costa, left, works on the floor of the New York Stock Exchange, in New York. Stock markets in Hong Kong, mainland China and Seoul were among those closed Monday, Feb. 11, 2013, for the Lunar New Year holiday. Japanese markets were also shut for a public holiday. European stocks were mostly higher in early trading, while Wall Street futures signaled gains ahead of the opening bell. (AP Photo/Richard Drew, File)
Stocks eke out gains as manufacturing improves
Published: 09:10:56 PM, Fri 01 March 2013 UTC
NEW YORK (AP) — Stocks are edging higher on Wall Street, closing out a volatile week, as an upturn in manufacturing outweighed the threat of looming cuts to government spending.
The Dow Jones industrial average closed up 35 points at 14,089 Friday, overcoming an early loss of 116 points.
Big swings have come back to the stock market over the past week following relatively calm trading in January and most of February. The automatic budget cuts, worries over how soon the Fed may wind down its economic stimulus and Italy's inconclusive elections have made trading more volatile.
The Standard & Poor's 500 index rose three to 1,518. The Nasdaq rose nine to 3,169.
Four stocks rose for every three that fell on the New York Stock Exchange. Trading volume was average, 3.7 billion shares.
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