Dow and S&P close higher - New York Report

US STOCKS ended higher after a volatile session yesterday as concerns about the health of the global economy kept investors cautious after more than a month of turbulence.

The Dow Jones industrial average rose 0.3 per cent to end with 16,049.13 points and the S&P 500 gained 0.12 per cent to 1,884.09. However, the Nasdaq Composite dropped 0.59 percent to 4,517.32.

Yahoo shares rose 2.39 per cent, a day after the Internet company’s board decided to proceed with spinning off its Alibaba stake.

Nexstar rose eight per cent after activist investor Starboard Value LP urged regional TV company Media General to sell itself to the company.

Republic Airways surged 12.85 per cent after Deutsche Bank raised the stock to “buy” and the airline reached agreement on new contracts with its pilots.

After the bell, Diamond Foods posted fiscal fourth-quarter sales that missed Wall Street’s expectations and its stock lost four per cent.