Stock Prices Post Modest Advance With Volume Remaining Sluggish
Stock prices edged higher in quiet trading yesterday as investors continued to focus on earnings news and takeover rumors.</br></br>The Dow Jones Industrial Average, which didn't stray far from Tuesday's closing level, rose 2.67 points to 1808.35.</br></br>Standard & Poor's 500-stock index inched up 0.38 to 236.26, and the New York Stock Exchange composite index 0.19 to 136.18.</br></br>Nearly 114 million shares changed hands on the Big Board, compared with 110 million shares Tuesday. Gainers outnumbered decliners by a narrow margin, 781 to 733.</br></br>Traders said they were somewhat disturbed by the continuing sluggish volume, as many investors stay glued to the sidelines. Still, traders and analysts were trying to sound as optimistic as possible. Some said they were encouraged that advancing issues on the Big Board led the decliners in both Tuesday's and yesterday's lackluster sessions, albeit narrowly.