Business News

Jul 9, 2009, 21:37 GMT

Financial shares push US stocks higher

New York - US stocks edged up Thursday, led by financial shares, which were buoyed by a positive report on banking giant Goldman Sachs. Bank of America suggested buying Goldman Sachs shares, helping financial firms close 1.4 per cent higher on the day. Health companies fell after pharmaceutical giant Merck halted trials for a cholesterol drug. The blue-chip Dow Jones Industrial Average inched up 4.76 points, or 0.06 per cent, to 8,183.17. The broader Standard & Poor's 500 Index rose 3.12 points, or 0.35 per cent, to 882.68. The technology- heavy Nasdaq Composite Index gained up 5.38 points, or 0.31 per cent, to 1,752.55. The US currency dropped against the euro to 71.28 euro cents from 72.02 euro cents on Wednesday. The dollar crept higher against the Japanese currency to 92.99 yen from 92.88 yen.

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