Stocks End Mixed As Sept. Rally Loses Steam
Stocks are ending mixed as a two-week rally loses momentum. News of a retrenchment by FedEx also discouraged buyers.
Stocks had been rising for most of September, but on unusually weak volume as skepticism remains about the economy.
Meanwhile FedEx, an economic bellwether, said it would eliminate 1,700 jobs in an effort to fix its U.S. trucking business.
According to preliminary calculations, the Dow Jones industrial average rose 22, or 0.2 percent, to close at 10,595.
The Standard & Poor's 500 index fell 0.4, or 0.04 percent, to 1,125. The Nasdaq composite edged up 2, or 0.08 percent, to 2,303.
About three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 900 million shares.
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