US stocks slightly higher after 3-day downturn
A record-breaking rally in stocks paused this week as investors contemplate what’s next for the market.
Stocks closed slightly higher on Friday, but not enough to avoid a second losing week in a row. Indexes reached record highs as recently as Monday, but then declined.
Investors may be nervous that stocks are overpriced, that stock prices have grown faster than justified by profits. Some are worried the Federal Reserve will decide next week to reduce its economic stimulus.
The Dow Jones industrial average edged up 16 points, or 0.1 percent, to close at 15,755 points.
The Standard & Poor’s 500 index was flat at 1,775. The Nasdaq composite rose two points, less than 0.1 percent, to 4,001.
Adobe Systems jumped 13 percent after reporting higher revenue for subscription-based software services.