Stock market inches upward

June 25, 2008 5:09:51 PM PDT
Stocks managed to close in positive territory, even after losing some of their upside momentum by the closing bell. 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