AnMaster.com

Alexkid

Dow edges higher, breaking an 8-day losing streak
DAVID K. RANDALL
(The Associated Press)


07:28:19PM (DST) Wednesday,August 3,2011.

NEW YORK (AP) — Stock indexes came back from deep losses in the morning and ended Wednesday with small gains. The Dow Jones industrial average avoided its longest losing streak since Jimmy Carter was president.

The Dow rose 30 points — after being down 166 — to break an eight-day losing streak. Nine days would have been the longest since February 1978. The S&P 500 index rose 6 points and broke a seven-day streak.

Markets have fallen recently because investors are becoming increasingly worried about the U.S. economy.

Shortly after the market opened, the Institute of Supply Management said its index measuring the service sector of the U.S. economy grew in July at the weakest pace in 17 months. Economists had expected a slight increase.

The report was the latest sign over the last week that the economy may be slowing. Consumer cut their spending in June for the first time in nearly two years; manufacturing slowed, and the government said that in the first half of the year the economy grew at its slowest pace since the recession ended in June 2009.


--------------------------------------------------------------------
Dow took a beating during the budget crisis.

__________________
Yeah...Do That.