NEW YORK (May 16, 2014) Stocks closed slightly higher Friday after drifting between small losses and gains for most of the day.
The Dow Jones industrial average rose 44 points, or 0.3 percent, to close at 16,491 Friday.
The Standard & Poor's 500 index gained seven points, or 0.4 percent, to end at 1,877.
The Nasdaq composite index rose 21 points, or 0.5 percent, to close at 4,090.
Telecommunication stocks rose the most of the 10 sectors in the S&P 500 index.
Verizon climbed $1.11, or 2.3 percent, to $49.07 after Warren Buffett's Berkshire Hathaway revealed it had a new investment in the company.
Bond prices fell, pushing up the yield on the Treasury's 10-year note to 2.52 percent.
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