Stocks rise after EU bailout, before Fed news
ASSOCIATED PRESS September 12, 2012 8:20AM
FILE- In this Sept. 7, 2012, file photo, John Santiago, left, works on the floor of the New York Stock Exchange. Futures are rising after Germanys highest court rejected efforts to block a $640 billion rescue fund for Europes economically struggling nations and ahead of the meeting by the Federal Reserve, which is expected to announce new stimulus measures to revive the U.S. economy. (AP Photo/Richard Drew, File)
Updated: September 12, 2012 3:41PM
NEW YORK — U.S. stocks finished with slight gains after Germany’s high court cleared the way for the country to participate in a European rescue fund. Attention shifted to the Federal Reserve, which began a big two-day meeting.
The Dow Jones industrial average gained 10 points to close at 13,333. The Standard & Poor’s 500 index rose three points to 1,437.
Germany’s highest court ruled Wednesday that the country could contribute to Europe’s (euro) 500 billion ($640 billion) rescue fund to help indebted governments.
In other trading, the Nasdaq added 10 points to 3,114. Apple’s stock added 1.4 percent to $669.79 following the unveiling of its newest, slimmer iPhone.
Roughly three stocks rose for every one that fell on the New York Stock Exchange. Trading volume was in line with the recent average at 3.5 billion shares.