Stocks Finish Modestly Higher

Fading hopes of capital-boosting bailout for Ambac and a Fed report confirming a weaker economy limited gains for indexes Wednesday

Stocks closed higher Wednesday as investors opted to support the market despite a mixed bag of economic news. The Federal Reserve's Beige Book said the economy has slowed since Jan. 1. Other key data showed drops in the ISM Nonmanufacturing Index, Factory Orders, and ADP employment; and gains in Productivity and Unit Labor Costs.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.