Stocks higher after yesterday's downdraft

Associated Press - July 25, 2008 11:53 AM ET NEW YORK (AP) - Stock prices are higher at midday, marking a modest recovery after yesterday's declines. The Dow Jones industrial average is up 49 points at 11,398. Gainers on the New York Stock Exchange hold a 19 to 11 lead over losers. The Nasdaq Composite Index has gained 24 points at 2,304. And the Standard-and Poor's 500 Stock Index is up 7 at 1,259. Trading on the New York Stock Exchange during the first two hours totaled 1.8 billion shares. Volume on the Nasdaq Market came to 779 million shares. Stocks have been in positive territory this morning, as oil prices have edged lower and economic data has come in stronger than expected. The Commerce Department reports that sales of new single-family homes dropped by six-tenths of a percent last month. The level of sales, however,... [read full story]