2 Jul 2009

Wall St gains despite light volume

10:00 am on 2 July 2009

Stocks in the United States rose on Wednesday. However, volume was light because financial markets will be closed on Friday for the Independence Day holiday.

Surveys from Europe showed manufacturing was shrinking less than initially thought and growing modestly in China.

Other data on Wednesday showed the US manufacturing sector contracted in June but at a slower pace than in May. The Institute for Supply Management said its index of national factory activity edged up to 44.8 to in June from 42.8 in May.

The Dow Jones industrial average rose 57.06 points, or 0.68%, to 8,504.06.

Standard & Poor's 500 Index gained 4.01 points, or 0.44%, to 923.33. The Nasdaq Composite Index rose 10.68 points, or 0.58%, to 1,845.72.

About 950.1 million shares changed hands on the New York Stock Exchange - well below last year's estimated daily average of 1.49 billion.

About 2.11 billion shares were traded on the Nasdaq - also below last year's daily average of 2.28 billion.