Stocks edge higher after Fed eases bank supports

By STEPHEN BERNARD and IEVA M. AUGSTUMS Associated Press

Feb. 19, 2010, 3:24PM

NEW YORK — Stocks ended a strong week with modest gains after investors found good news in the Federal Reserve's decision to begin dismantling emergency lending measures for banks.

The market initially fell today but investors came to see the Fed's move to raise what it charges banks as a sign that the financial system is recovering.

The Dow Jones industrial average is up 9 points to 10,402, bringing its gain for the week to 303 points. The Standard & Poor's 500 index is up 2 at 1,109. The Nasdaq composite index is up 2 at 2,244.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume came to 1.1 billion shares, compared with 960 million Thursday.


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