NEW YORK (AP) — U.S. stocks are edging higher after investors set aside a pair of weak reports on the economy.
The government reported that the U.S. economy shrank at annual rate of 2.9 percent in the first three months of the year and that orders for long-lasting goods sank 1 percent in May.
CBS and other broadcasters rose after winning a closely watched copyright case in the Supreme Court against a startup Internet company.
The Dow Jones industrial average rose 49 points, or 0.3 percent, to close at 16,867 Wednesday.
The Standard & Poor’s 500 index rose nine points, or 0.5 percent, to 1,959. The Nasdaq composite rose 29 points, or 0.7 percent, to 4,379.
Bond prices rose. The yield on the 10-year U.S. Treasury note fell to 2.56 percent.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
A look at the winter weather news in the D.C. area.
For a trip to the North Pole, there’s no finer way to travel. Railroads around the country offer seasonal trips to see Santa between Thanksgiving and Christmas.