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Market Update

Stocks edge higher; Molson Coors jumps on earnings, Sprint drops after abandoning deal

  • efaf881b6dca7410VgnVCM100000d7c1a8c0____-Financial Markets Wall Street-1.jpg

    Trader Craig Spector, left, works on the floor of the New York Stock Exchange Wednesday, Aug. 6, 2014. U.S. stocks are little changed in early trading Wednesday as investors worry about escalating tensions between Russia and the Ukraine. Investors were also holding back after two larger merger bids were pulled. (AP Photo/Richard Drew) (The Associated Press)

  • efaf881b6dca7410VgnVCM100000d7c1a8c0____-Financial Markets Wall Street-2.jpg

    Specialist Wingszi Chiang, left, works at her post on the floor of the New York Stock Exchange Wednesday, Aug. 6, 2014. U.S. stocks are little changed in early trading Wednesday as investors worry about escalating tensions between Russia and the Ukraine. Investors were also holding back after two larger merger bids were pulled. (AP Photo/Richard Drew) (The Associated Press)

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    Traders Daniel Kryger, left, and Christopher Morie work on the floor of the New York Stock Exchange Wednesday, Aug. 6, 2014. Worries about Russian troops massing near the Ukrainian border are pushing stocks slightly lower. (AP Photo/Richard Drew) (The Associated Press)

U.S. stocks are closing slightly higher, led by a rebound in consumer staples stocks.

The market had fallen to its lowest level since May a day earlier, when Russia massed troops near its border with Ukraine.

The Dow Jones industrial average rose 14 points, or 0.1 percent, to close at 16,443 Wednesday.

The Standard & Poor's 500 index rose a fraction to end at 1,920. The Nasdaq composite rose two points, or 0.1 percent, to 4,355.

Molson Coors rose 6 percent after the company said its second-quarter profit rose 9 percent. Better pricing offset a global decline in the volume of beer sales.

Sprint plunged 19 percent after the company abandoned its pursuit of T-Mobile US.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.47 percent.