By MATTHEW CRAFT
NEW YORK – A modest gain for the stock market on Wednesday tugged the Dow Jones industrial average back into the black for the year as investors set aside concerns about Ukraine, Iraq and earnings, at least for a day.
Amazon led the gains in light trading, despite a mixed batch of economic and corporate news. The gains were broad but thin. Three companies rose for every one that fell on the New York Stock Exchange, and all 10 sectors in the S&P 500 ended higher.
“This is a very resilient market,” said Uri Landesman, president of Platinum Partners, a hedge fund in New York.
Amazon, the online retail giant, unveiled a new payment system for mobile phones. The device, called Amazon Local Register, is aimed at helping small businesses accept payments through smartphones and tablets. Amazon’s stock gained $6.96, or 2 percent, to $326.28.
The S&P 500 rose 12.97 points, or 0.7 percent, to end at 1,946.72. The Dow gained 91.26 points, or 0.6 percent, to 16,651.80, the first time in August that the 30-stock average has been in positive territory for the year.
The tech-heavy Nasdaq composite climbed 44.87 points, or 1 percent, to 4,434.13.