BUSINESS

US stocks end up; earnings rise, Bernanke reassures there's no 'preset course' for Fed exit

07/17/2013 04:14 EDT | Updated 09/16/2013 05:12 EDT
NEW YORK, N.Y. - Stocks are closing with slight gains after earnings gains from major U.S. companies and reassurance from Fed Chairman Ben Bernanke that there was no "preset course" for ending the bank's massive bond-purchasing program.

The Dow Jones industrial average rose 18 points, or 0.1 per cent, to 15,470 Wednesday. American Express and Caterpillar held the Dow back.

The Standard & Poor's 500 rose four points, or 0.3 per cent, to 1,680. The Nasdaq composite rose 11 points, 0.3 per cent, to 3,610.

The yield on the benchmark 10-year Treasury note fell to 2.49 per cent from 2.53 per cent.

Toy maker Mattel sank 7 per cent to $43.16 after its second-quarter income plunged.

Two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was thin at 3.1 billion shares.