Dow 12,626.02 +56.15 +0.45%
Published: Wednesday, 6 Jul 2011 | 4:25 PM ET Text Size By: JeeYeon Park
CNBC.com Writer
Stocks closed to the upside in another thin trading session Wednesday after investors largely shrugged off a handful of weak economic news and looked ahead to Friday's employment report in addition to earnings season, which kicks off next week.
The Dow Jones Industrial Average rose 56.15 points to close at 12,626.02, led by DuPont [DD 55.20 0.75 (+1.38%) ] and Caterpillar [CAT 110.08 1.65 (+1.52%) ]. The Dow is at its highest level in almost two months and is up about 1,000 points for 2011.
The S&P 500 eked out a 1.34 point gain to finish at 1.339.22.
The tech-heavy Nasdaq climbed 8.25 points to end at 2,834.02. The Nasdaq is up for the seventh-consecutive session.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, gained above 16.
“There’s going to be continued volatility in the markets throughout the summer months into early fall,” said Zahid Siddique, portfolio manager of Gabelli Equity Trust. “[But] as the economic indicators begin to improve, there will be less volatility and more stability in the markets by year-end.”
Investors will be closely watching the government's monthly jobs report on Friday, which is expected to show a modest gain after a May slowdown.
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This is turning out to be an exhilarating roller coaster ride. Although the storm came earlier than expected, the problems were all foreseen and hopefully, the heaviest part of the storm is over for now.
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