US Stocks Drift Higher As Investors Look For Greek Debt Deal The Dow Jones Industrial Average edged higher Friday after European leaders signaled progress toward an agreement on a second bailout for Greece.
Trading was subdued, jeopardizing the chances for major indexes to hit multiyear milestones ahead of the long, holiday weekend. The Dow advanced 50 points, or 0.4%, to 12954, in afternoon trading, within striking distance of 13000, a level last hit in May 2008. The Dow had climbed 123 points Thursday.
The Standard & Poor's 500-stock index rose three points, or 0.2%, to 1361, three points below a nearly four-year high. The Nasdaq Composite fell eight points, or 0.3% to 2952, after closing Thursday at an 11-year high.
YHOO heading to 11s Yahoo Inc's new chief executive is preparing a significant restructuring of the Internet company, including layoffs that could cut thousands of employees from its payroll, according to a technology blog.
The moves could be announced as soon as the end of the month and would represent the first major changes under CEO Scott Thompson, the former PayPal president who took the top job at Yahoo in January.
The changes at the struggling Web pioneer, which recently hired the Boston Consulting Group, will focus on its products group, as well as on research, marketing and public relations and businesses that are not core to the company, according to the report on Monday in the blog AllThingsDigital.com, which cited anonymous sources.
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