Small gains on Wall Street
THE DOUBLING of social network LinkedIn’s shares in its market debut yesterday dominated the stock market in an otherwise lacklustre session, in which equities rebounded from recent losses.
Many investors have resigned themselves to a patch of economic weakness over the summer. Stocks have been resilient, only falling 1.5 per cent, but the S&P is struggling to make headway above 1,340, an area that has met with repeated bouts of selling.
The Dow Jones industrial average gained 45.14 points, or 0.36 per cent, to 12,605.32. The Standard & Poor’s 500 Index rose 2.92 points, or 0.22 per cent, during the day to 1,343.60. The Nasdaq Composite Index added 8.31 points, or 0.30 per cent, to close at 2,823.31.