Stock market ekes out small gains, led by tech

AP News
Posted: Aug 13, 2013 4:15 PM
Stock market ekes out small gains, led by tech

NEW YORK (AP) — Stock indexes are managing small gains as an upturn in technology companies outweighs weakness in other parts of the market, including a drop in airlines.

The Dow Jones industrial average rose 31 points, or 0.2 percent, to 15,451 Tuesday.

The Standard & Poor's 500 index rose four points, or 0.3 percent, to 1,694.

The Nasdaq rose 14 points, or 0.4 percent, to 3,684.

Apple led technology stocks higher after activist investor Carl Icahn said he has a large position in Apple and was urging the company to buy back more of its own stock.

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Airline stocks slumped after the Justice Department challenged the proposed merger between US Airways and American Airlines.

More stocks fell than rose on the New York Stock Exchange. Volume was lower than average, 3 billion shares.