NEW YORK (AP) — The Standard & Poor's ratings agency said Monday it's getting more optimistic about the U.S. economy. But investors just yawned.
The U.S. stock market edged higher in early trading after the S&P agency raised its outlook for U.S. government debt and predicted an improving economy, but the gains were slim and fickle.
In the first hour of trading, stock indexes edged higher, fell, then edged higher again. By midday Eastern Daylight Time they were still higher, but only slightly.
The gains were broad, but modest. Seven of the 10 industry groups in the S&P 500 index rose, led by telecommunications stocks with an increase of 0.8 percent. Among individual stocks, McDonald's rose after reporting higher sales thanks to new menu items.
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