Stocks advanced Wednesday in light trading as Wall Street recovered from the previous session’s selloff and awaited Thursday’s expected interest rate hike from the Federal Reserve. Stocks have barely budged for the year despite an early run-up and, more recently, a nearly two-month slide.
According to preliminary calculations, the Dow rose 48.82, or 0.45 percent to 10,973.56. The Dow plunged 120.54 Tuesday. Broader stock indicators also closed higher. The Standard & Poor’s 500 index was up 6.80, or 0.55 percent, at 1,246.00, and the Nasdaq composite index rose 10.16, or 0.48 percent, to 2,110.41.
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Local Winners & Losers
Ameron International Corp. closed up 7 percent at $61.16; gaining $4 a share. Keystone Automotive Industries closed up 4.25 percent at $40.50 a share while Staar Surgical Co. was up 3.7 percent to close at $7.63.
On the other end, Emak Worldwide finished down 9.7 percent at $5.23 a share. Cheesecake Factory also lost 7 percent to close at $25.78 while IMPCO Technologies finished down 7 percent at $10.30 a share.
