US stocks are mixed after a three-day downturn
Stocks are mixed on Wall Street as the market stabilizes after a three-day slump.
Traders are trimming some of their holdings to get their portfolios in shape by the end of the year. They’re also looking ahead to next week’s meeting of the Federal Reserve and wondering what policymakers may say about the next steps for the central bank’s huge bond-buying program, which has been driving markets higher and keeping long-term interest rates very low.
The Dow Jones industrial average is up 18 points, or 0.1 percent, at 15,757 as of noon (1700 GMT) Friday. The Standard & Poor’s 500 index is flat at 1,775. The Nasdaq composite edged up two points, less than 0.1 percent, to 4,001.
Adobe Systems jumped 11 percent after reporting higher revenue for subscription-based software services.