US stocks edge higher in midday trading

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Associated Press

Posted on December 24, 2013 at 12:05 PM

Updated Tuesday, Dec 24 at 1:03 PM

NEW YORK (AP) — Stocks are higher in midday trading on Wall Street after the government reported that American companies are investing in their businesses at the fastest pace since January.

The Dow Jones industrial average was up 54 points, or 0.3 percent, to 16,348 as of noon Tuesday.

The Standard & Poor's 500 index rose five points, or 0.3 percent, to 1,832. The Nasdaq composite was up four points, or 0.1 percent, at 4,153.

U.S. markets will close early on Tuesday and will remain closed on Wednesday in observance of Christmas.

Homebuilder stocks rose after the government reported that sales of new homes increased last month at a faster pace than analysts were expecting.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.98 percent.

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