US stocks edge higher as debt talks continue

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Associated Press

Posted on October 11, 2013 at 11:01 AM

Updated Friday, Oct 11 at 1:02 PM

NEW YORK (AP) — The stock market is edging higher as talks continue in Washington over ending a budget impasse that has partially shut down the government and threatened the U.S. with default.

The Dow Jones industrial average rose 61 points, or 0.4 percent, to 15,188 at midday Friday. The Dow surged 323 points on Thursday as investors hoped that signs of a compromise from House Republicans would defuse the standoff.

The Standard & Poor's 500 index was up six points, or 0.4 percent, at 1,698. The Nasdaq composite was up 18 points, 0.5 percent, at 3,778.

Safeway rose $2.03, or 6 percent, to $33.61 after saying it would sell its Chicago-area stores to focus on its more profitable businesses.

Gap fell $2.85, or 7 percent, to $36.63 after its sales fell in September.

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