Global stocks edge up after four weeks of losses
US stocks ended slightly higher after four weeks of losses as investors hesitated to take big risks without a catalyst for buying. The market was led by large-cap techs and industrials until late in the session when a rally faded.
One possible spark to action could be Federal Reserve Chairman Ben Bernanke's speech set for Friday at the US central bank's annual meeting in Jackson Hole, Wyoming.
The Dow Jones industrial average was up 36.85 points, or 0.34 percent, at 10,854.50. The Standard & Poor's 500 Index was up 0.29 point, or 0.03 percent, at 1,123.82. The Nasdaq Composite Index was up 3.54 points, or 0.15 percent, at 2,345.38.
Beaten-down European shares rebounded as well as Eni, the largest foreign oil operator in Libya, jumped on hopes of an end to conflict there and as investors grabbed shares offering value after recent declines.
The FTSEurofirst 300 index of top European shares was up 1.2 percent at 920.75 points after falling 1.7 percent on Friday. The index is still down about 15 percent so far this month and is on track for its biggest monthly decline since the index started in 1999.The Nikkei stock average marked its lowest close since March 15 today as worries about the US economy offset signs that the Japanese authorities stand ready to quell any further yen strength. The benchmark Nikkei fell 1 percent to 8,628.13. The broader Topix index dropped 1.2 percent to 742.84.
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