US stocks edge higher following Cisco forecast
Wall Street ended a fractious session slightly higher tonight after falling oil prices hurt energy stocks and overshadowed a stronger-than-expected productivity reading. A Federal Reserve official’s comments on interest rates also soured the market’s early good mood.
A robust sales forecast from Cisco Systems Inc. gave a boost to technology stocks, however. The Labor Department’s productivity figures for the fourth quarter were nearly double what had been expected, but failed to offset concerns about falling oil prices.
