Stock market inches upward

NEW YORK - June 25, 2008 The Federal Reserve announced that it was standing pat on interest rates. That ended a string of rate cuts over the past 10 months.

The Dow gained four points to 11,811.

The S&P 500 added 7 and a-half points to 1,321.

And the Nasdaq composite rose nearly 33 points to 2,401.

On the broader market, advancing issues led decliners by a 7-to-3 margin.

Volume on the NYSE came to about 4.7 billion shares. Nasdaq stock market volume was over 2 billion.

Light, sweet crude for August delivery fell $2.45 to settle at $134.55 on the New York Mercantile Exchange.

(Copyright 2008 by The Associated Press. All Rights Reserved.) AP-NY-06-25-08 1612EDT

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