Stocks end mostly higher; Dow average slips
NEW YORK (AP) — Stocks are ending mostly higher even as a few big-name companies pull the Dow Jones industrial average lower.
The Standard & Poor’s 500 index rose five points, or 0.3 percent, to end at 1,843 Tuesday.
The Dow fell 44 points, or 0.3 percent, to 16,414. Weak showings from Travelers and Johnson & Johnson helped pull the index lower.
The Nasdaq composite ended up 28 points, or 0.7 percent, to 4,225.
Broad market indicators were mostly higher. Eight of the 10 industry sectors in the S&P 500 average rose, led by materials stocks.
Dow Chemical rose 7 percent after the hedge fund Third Point bought a big stake in the company.
Delta increased 3 percent after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose.