Stocks Hover Near 4-Year Closing Highs

By: AP
By: AP
Major stock indexes are hovering near four-year closing highs in midday trading.


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NEW YORK (AP) -- Major stock indexes are hovering near four-year closing highs in midday trading.

The Dow Jones industrial average is up a point to to 13,272 shortly before noon Tuesday. The average reached this year's peak of 13,279 on May 1.

The broader Standard & Poor's 500 index rose two points to 1,420. That's one point above its four-year high.

The Nasdaq rose four points to 3,080. Trading was light, with much of Wall Street on summer vacation.

Facebook's stock is off 2 percent after one of its earliest backers, venture capitalist Peter Thiel, sold most of his stake in the social network.

Best Buy is down 5 percent after it reported a 90 percent drop in quarterly net income. Best Buy's stock has lost 15 percent this week.

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