Originally published Wednesday, June 16, 2010 at 2:26 PM
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How the major stock indexes fared on Wednesday
BP's agreement to put $20 billion into a fund for victims of the Gulf of Mexico oil spill lifted the stock market off its lows and sent the major indexes to a narrowly mixed finish. The oil company also said Wednesday it has canceled a dividend payment totaling about $2.6 billion that was scheduled for June 21. It also won't declare a dividend for the second and third quarters. Investors saw the news as an end to the uncertainty about BP's stability, and that helped steady the overall market.
The Associated Press
BP's agreement to put $20 billion into a fund for victims of the Gulf of Mexico oil spill lifted the stock market off its lows and sent the major indexes to a narrowly mixed finish. The oil company also said Wednesday it has canceled a dividend payment totaling about $2.6 billion that was scheduled for June 21. It also won't declare a dividend for the second and third quarters. Investors saw the news as an end to the uncertainty about BP's stability, and that helped steady the overall market.
The Dow Jones industrial average rose 4.69, or 0.05 percent, to 10,409.46.
The Standard & Poor's 500 index 0.62, or 0.06 percent, to 1,114.61.
The Nasdaq composite index rose 0.05 to 2,305.93.
For the week:
The Dow is up 198.39, or 1.9 percent.
The S&P is up 23.01, or 2.1 percent.
The Nasdaq is up 62.33, or 2.8 percent.
For the year:
The Dow is down 18.59, or 0.2 percent.
The S&P is down 0.49, or 0.04 percent.
The Nasdaq is up 36.78, or 1.6 percent.
UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case
UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip
UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award
UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall
NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook
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