WKYT | Lexington, Kentucky | News

Stocks edge higher after manufacturing data

NEW YORK (AP) - The Dow Jones industrial average has again approached its highest level of the year, only to pull back.

The Dow had risen sharply Monday morning after reports showed growth in manufacturing activity accelerated in both the U.S. and China last month. But for the third time in recent weeks, the Dow surpassed its highest closing level of the year only to retreat.

There could be some caution in the market as traders prepare for the midterm elections and await details of the Federal Reserve's economic stimulus program due out later in the week.

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