Stocks inch higher; Boeing holds the Dow back

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Associated Press

Posted on July 12, 2013 at 1:33 PM

Updated Friday, Jul 12 at 2:02 PM

A last-minute turnaround is leaving the stock market with small gains for the day — enough to leave major U.S. indexes at new all-time highs.

The Dow Jones industrial average eked out a gain of three points, just 0.02 percent, to close at 15,464 Friday.

The Dow was in the red for most of the afternoon because of a sharp drop in Boeing following a fire in a 787 Dreamliner parked in London.

The Standard & Poor's 500 rose five points, or 0.3 percent, to 1,680.

The Dow and S&P also closed at record highs Thursday.

The Nasdaq rose 21, or 0.6 percent, to 3,600.

UPS sank 6 percent after cutting its earnings forecast as customers chose cheaper shipping options.

Banks rose after Wells Fargo and JPMorgan beat earnings forecasts.

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