US stocks edge higher, shaking off a slump
U.S. stocks are modestly higher in early trading as the market stabilizes at the end of a rocky week.
The Standard & Poor’s 500 index rose two points, or 0.1 percent, to 1,848 in the first few minutes of trading Friday. A steep drop the day before had wiped out the index’s gain for the year.
The Dow Jones industrial average rose 24 points, or 0.1 percent, to 16,130. The Nasdaq composite was up a fraction at 4,261.
Liberty Media, the company controlled by billionaire John Malone, rose 9 percent after saying late Thursday that it would drop its bid to buy the rest of the satellite radio provider Sirius XM.
Aeropostale slumped 17 percent after the teen retailer reported a wider loss and issued a dismal earnings outlook.