Stocks rise slightly at midday as Alibaba debuts

By The Associated Press | Posted - Sep. 19, 2014 at 10:11 a.m.



This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — U.S. stocks are slightly higher at midday after Chinese e-commerce giant Alibaba made its big debut in the market.

The Dow Jones industrial average rose 27 points, or 0.2 percent, to 17,293 as of 12:03 p.m. Friday, above its all-time closing high from the day before. The Standard & Poor's 500 index edged up less than one point, or 0.1 percent, to 2,012, above its own record from the previous day.

The Nasdaq fell nine points, or 0.2 percent, to 4,583.

Alibaba surged as it began trading on the New York Stock Exchange just before noon. It traded at $98 minutes after its debut, a 44 percent rise from its initial public offering of $68 a share.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast