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S&P 500 edges higher, helped by gold miners

S&P 500 edges higher, helped by gold miners

July 22nd, 2013 in News

NEW YORK (AP) - Mining companies and banks helped the stock market overcome some disappointing quarterly performances.

Poor second-quarter results from a handful of large U.S. companies weighed on stocks. But gold and copper prices boosted mining companies, and that helped nudge the market to another all-time high.

Gold gained $43.10, or 3.3 percent, to $1,336 an ounce, its biggest gain in more than a year. Copper rose 4 cents, or 1.3 percent, to $3.19 per pound.

The S&P 500 index rose three points, or 0.2 percent, to 1,695.53 on Monday. The index is at an all-time high, though trading volumes were lower than average.

The Dow Jones industrial rose nearly 1.8 points, or 0.01 percent, to 15,545.55.

The Nasdaq composite climbed 12.77 points, or 0.4 percent, to 3,600.39.