Stocks rise; Nasdaq resumes after a 3-hour halt | Inquirer Business

Stocks rise; Nasdaq resumes after a 3-hour halt

/ 07:38 AM August 23, 2013

The Nasdaq logo is displayed on its building in New York, Thursday, Aug. 22, 2013. Nasdaq halted trading Thursday because of a technical problem, the latest glitch to affect the stock market. AP Photo/Seth Wenig

NEW YORK – The stock market is closing higher and trading resumed on the Nasdaq exchange after a 3-hour halt caused by a technical glitch.

Encouraging news about global manufacturing sent stock indexes higher Thursday.

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The Dow Jones industrial average rose 66 points, or 0.4 percent, to 14,963. The Dow was coming off six straight losses.

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The Standard & Poor’s 500 index rose 14 points, or 0.9 percent, to 1,656. The Nasdaq composite rose 38 points, or 1.1 percent, to 3,638.

The stock of Nasdaq OMX, parent company of the Nasdaq exchange, fell 3 percent to $30.46 after the trading outage.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was very low, 2.4 billion shares, below the recent average of 3.3 billion.

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TAGS: markets, NASDAQ, New York Stock Exchange, stocks

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