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Stocks Post Modest Advance

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Oct 9, 2006 4:59 pm US/Eastern

Stocks Post Modest Advance

NEW YORK (AP) ―

Click to enlarge 1 of 1: Stocks opened lower, but reversed course after the U.N. Security Council and much of the world condemned North Korea's boast that it successfully tested a nuclear weapon.
AP

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Stocks closed higher today despite geopolitical and oil supply concerns that worked their way through the market in the early going.

The Dow Jones industrial average finished with a gain of 7.5 points at 11,857. Advancing issues on the New York Stock Exchange led losers five-to-three on volume of about 1.7 billion shares. The Nasdaq composite index was up eleven and three-quarters at the 2,311 level, with roughly 1.3 billion shares traded. And the S&P 500 added a point, closing at 1,350.

Stocks opened lower, but reversed course after the U.N. Security Council and much of the world condemned North Korea's boast that it successfully tested a nuclear weapon. There were also jitters prompted by speculation that OPEC was close to an output cut agreement.

Nonetheless, the market persevered and while the Dow didn't close at a record high, it did set a new mark for intra-day trading.