Stocks resumed their November advance yesterday, helped by the lowest oil prices in three months and better-than-expected profit at Federated Department Stores. But the market retreated after the hotel bombings in Jordan and ended the day with only modest gains.
The Dow Jones industrial average increased 6.49, or 0.1 percent, to 10,546.21. The Nasdaq composite index rose 3.74, or 0.2 percent, to 2175.81. The Standard & Poor's 500-stock index rose 2.06, or 0.2 percent, to 1220.65.
Crude oil for December delivery fell to $58.93 a barrel, the lowest close since July 22.
Federated, the owner of Hecht's, Macy's and Bloomingdale's, rose $4.94, to $68.85. The company earned 36 cents a share, excluding some items, in the third quarter. On that basis, Federated was estimated to earn 23 cents, according to Thomson Financial. Revenue rose 64 percent from Federated's acquisition of May Department Stores.
Yesterday's only significant economic news release was the Commerce Department's wholesale inventory report for September. A 0.6 percent increase in inventories brought the total value of stockpiles to $356.5 billion and followed a 0.5 percent gain in August.
Shares of iRobot closed up more than 11 percent in yesterday's trading debut for the world's largest maker of mobile robots for the consumer market, including the floor-cleaning Roomba.
The 15-year-old company, which began turning a profit last year, offered 4.3 million shares at $24 apiece. They rose as high as $34.16 in early trading before retreating to close up $2.70 at $26.70 on the Nasdaq Stock Market.
Associated Press contributed to this report.
General Motors fell $1.23, to $24.63. GM's credit rating was lowered again.
Fisher Scientific International rose $6.78, to $63.88, on a positive full-year profit forecast.
Broadcom rose $3.11, to $46.13, on a positive fourth-quarter forecast.
New York Stock Exchange composite index rose 11.27, to 7500.99.
American Stock Exchange index rose 9.43, to 1687.90.
Russell 2000 index of smaller-company stocks rose 3.60, to 659.83.
NYSE: 2.18 billion shares, up from 1.96 billion on Tuesday. Advancers outnumbered decliners 6 to 5.
Nasdaq: 1.63 billion shares, up from 1.62 billion. Advancers outnumbered decliners 11 to 9.
Crude oil for December delivery: $58.93, down 78 cents.
Gold for current delivery: $466.30 a troy ounce, up from $460.90 on Tuesday.