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The Ledger - EST. 1978 - Nashville Edition

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VOL. 36 | NO. 37 | Friday, September 14, 2012

Stocks higher for 2nd day after Fed action

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NEW YORK (AP) — Stocks are closing higher, propelled for a second day by the Federal Reserve's plans to try to energize the economy.

The Dow Jones industrial average is up 53 to 13,593. The Standard & Poor's 500 is up six to 1,466. The Nasdaq composite index is up 28 to 3,184.

Apple, taking orders for the iPhone 5, hit its highest stock price of all time.

But there were unsettling signs about the economy: U.S. industrial production fell in August by the largest amount in more than three years, the Fed reported. Also, high gas prices drove up consumer prices in August by the most in three years.

On the New York Stock Exchange, for every stock that fell, two rose. Volume was heavy: About 4.9 billion shares were traded.