By The Associated Press
2014-06-26 06:42 AM
The U.S. stock market inched modestly higher Wednesday, recovering more than half of what it lost the day before, as investors were able to set aside two disappointing economic reports. CBS and other broadcasters rose after the Supreme Court ruled in favor of them over a startup Internet company in a closely watched copyright case. Monsanto rose after the agricultural company announced a big stock buyback and reported earnings that beat analysts' estimates.
The Dow Jones industrial average rose 49.38 points, or 0.3 percent, to 16,867.51.
The Standard & Poor's 500 index rose 9.55 points, or 0.5 percent, to 1,959.53.
The Nasdaq composite index rose 29.40 points, or 0.7 percent, to 4,379.76.
For the week:
The Dow is down 79.57 points, or 0.5 percent.
The S&P 500 is down 3.34 points, or 0.2 percent.
The Nasdaq is up 11.72 points, or 0.3 percent.
For the year:
The Dow is up 290.85 points, or 1.8 percent.
The S&P 500 index is up 111.17 points, or 6 percent.
The Nasdaq is up 203.17 points, or 4.9 percent.