Posted: Wednesday, May 7th 2014 at 4:29pm
US stocks close mostly higher even as tech swoons; Dow up 117
By The Associated Press
NEW YORK (AP) -- The stock market closed Wednesday mostly higher even as several Internet companies including AOL and Groupon take a plunge.
Whole Foods dropped 19 percent after cutting its profit forecast. Molson Coors and video game maker Activision Blizzard rose after reporting higher earnings.
The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to close at 1,878 Wednesday.
The Dow Jones industrial average rose 117 points, or 0.7 percent, to 16,518. The Nasdaq composite lost 13 points, or 0.3 percent, to 4,067.
Technology stocks fell broadly, especially Internet companies. AOL dropped 21 percent after reporting a sharp drop in earnings. Groupon also fell 21 percent.
Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.59 percent.
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