S&P 500 finishes higher to snap 3-day skid; Intel jumps on stronger revenue forecast
The stock market is closing higher on corporate deal news and an improved forecast from chipmaker Intel.
The Standard & Poor’s 500 index rose six points, or 0.3 per cent, to close at 1,936 Friday. The gain snapped a three-day losing streak for the index. The Dow Jones industrial average climbed 41 points, or 0.3 per cent, to 16,775. The Nasdaq gained 13 points, or 0.3 per cent, to 4,310.
Intel jumped 7 per cent after the chipmaker said late Thursday that sales of business computers have been stronger than expected, and raised its revenue forecast.
Oil added to gains from earlier in the week. Crude is rising because Iraq’s insurgency threatens to disrupt crude exports. Oil edged up 38 cents to $106.91 a barrel after rising more than $2 the day before.
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