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Policy: Economy

Stocks close slightly higher after day of wavering

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Photo - Trader Ryan Falvey, left, works on the floor of the New York Stock Exchange Friday, May 16, 2014. The stock market is little changed in early trading following sharp declines the previous day. (AP Photo/Richard Drew)
Trader Ryan Falvey, left, works on the floor of the New York Stock Exchange Friday, May 16, 2014. The stock market is little changed in early trading following sharp declines the previous day. (AP Photo/Richard Drew)
News,Business,Economy,Wall Street,Financial Markets

NEW YORK (AP) — The stock market has ended slightly higher after drifting between small losses and gains for most of the day.

The Dow Jones industrial average rose 44 points, or 0.3 percent, to close at 16,491 Friday.

The Standard & Poor's 500 index gained seven points, or 0.4 percent, to end at 1,877. The Nasdaq composite index rose 21 points, or 0.5 percent, to 4,090.

Telecommunication stocks rose the most of the 10 sectors in the S&P 500 index. Verizon climbed $1.11, or 2.3 percent, to $49.07 after Warren Buffett's Berkshire Hathaway revealed it had a new investment in the company.

Bond prices fell, pushing up the yield on the Treasury's 10-year note to 2.52 percent.

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