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VOL. 40 | NO. 22 | Friday, May 27, 2016
US stocks eke out tiny gains
The Associated Press
NEW YORK (AP) — U.S. stock indexes eked out tiny gains after spending much of the day in the red.
Investors sized up new data on the U.S. manufacturing, housing and automobile industries Wednesday. Consumer staples companies led the gainers, while telecommunications stocks lagged the rest of the market.
Automakers GM and Ford Motors declined after reporting a drop in sales for May.
Apparel maker Under Armour slumped 4 percent after the company warned that its results would be hurt by the bankruptcy of the sporting goods retail chain Sports Authority.
The Dow Jones industrial average edged up 2 points, less than 0.1 percent, to 17,789. The Standard and Poor's 500 index also rose 2 points, or 0.1 percent, to 2,099. The Nasdaq composite gained 4 points, or 0.1 percent, to 4,952.