Market Closes Higher
NEW YORK (AP) - The slock market edged up to its highest level in four months Wednesday as investors weighed progress in New York CityÛªs effort to avert default against the hesitant style of the current business recovery.</br></br>The Dow Jones average of 30 industrial stocks closed at 858.55, a 8.15 rise from . Tuesday, and its highest close since it reached 862.41 July 18.</br></br>Standard & PoorÛªs 500-stock index gained .23 to 90.94, and the NYSE composite index advanced .14 to 48.09.</br></br>Trading was brisk at the opening, .with the Dow jumping nearly'five points. It dropped to a slight loss midway through the session before picking up its 3.15 gain on the day.</br></br>After trading ended Tuesday, the New York State legislature passed a $200Ûª million tax package for New York City that state leaders said w'as necessary to win federal financial assistance.