By Associated Press
2014-05-06 06:01 AM
The stock market closed slightly higher as enthusiasm about an improving U.S. service sector outweighed concerns about China.
Stocks started the day lower on news that manufacturing contracted in China for the fourth straight month in April. Indexes erased their losses in midmorning trading after a U.S. trade group reported that service firms grew more quickly last month.
The Dow Jones industrial average rose 17.66 points, or 0.1 percent, to 16,530.55.
The Standard & Poor's 500 index climbed 3.52 points, or 0.2 percent, to 1,884.66.
The Nasdaq composite rose 14.16 points, or 0.3 percent, to 4,138.06.
For the year:
The Dow is down 46.11 points, or 0.3 percent.
The S&P 500 index is up 36.30 points, or 2 percent.
The Nasdaq composite is down 38.53 points, or 0.9 percent.