the republic logo

US stocks edge higher at midday as e-commerce giant Alibaba debuts on NYSE

bug
Share/Save/Bookmark

NEW YORK — U.S. stocks are slightly higher at midday after Chinese e-commerce giant Alibaba made its big debut in the market.

The Dow Jones industrial average rose 27 points, or 0.2 percent, to 17,293 as of 12:03 p.m. Friday, above its all-time closing high from the day before. The Standard & Poor's 500 index edged up less than one point, or 0.1 percent, to 2,012, above its own record from the previous day.

The Nasdaq fell nine points, or 0.2 percent, to 4,583.

Alibaba surged as it began trading on the New York Stock Exchange just before noon. It traded at $98 minutes after its debut, a 44 percent rise from its initial public offering of $68 a share.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.