US Stocks inch up as investors keep eye on Washington

Dec 07 2012, 08:12 IST
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SummaryThe Dow Jones industrial average climbed nearly 40 points to close at 13,074 Thursday.

The stock market is eking out a small gain as investors keep their eyes closely focused on budget talks in Washington.

The Dow Jones industrial average climbed nearly 40 points, or 0.3 percent, to close at 13,074 Thursday. The Dow stayed in a narrow range and moved between small gains and losses.

The Standard & Poor's 500 index rose five points to 1,414 and the Nasdaq composite climbed 16 points to 2,989.

Apple rose 1.6 percent to $547.24, a day after taking its worst fall in four years. CEO Tim Cook said Apple will produce one of its Mac computers in the United States next year.

Rising stocks narrowly outnumbered falling ones on the New York Stock Exchange. Volume was lighter than usual at 3.1 billion shares.

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