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Stocks Continue Snail's Pace; Dow Eases Despite Verizon's Climb

Stocks closed mostly higher, although the indexes continued a pattern of minor price movements.

The Nasdaq composite and S&P 500 added 0.1% as buyers emerged late in the session. It was the ninth straight day the S&P has moved less than 0.4% in either direction.

X Volume was lower than Thursday's levels, the initial data showed. Small caps continued a trend of outperformance, with the Russell 2000 adding 0.5% at the close.

The Dow Jones industrial average was off 0.1%. Verizon Communications (VZ) jumped 2% on new signs that the company may merge with rival Sprint (S). Shares of Sprint, which is not a member of the Dow average, surged 6%.

Dow Jones industrials component UnitedHealth Group (UNH) fell 1% and traded below its 50-day moving average for the first time since mid-May. Health insurance stocks rose momentarily after Sen. John McCain came out against the Graham-Cassidy plan to repeal ObamaCare and replace it with a modified plan.

Solar energy stocks, the No. 1 industry group, led the market after the U.S. International Trade Commission ruled that imports of cheap solar panels from China have caused injury to domestic manufacturers.

U.S. solar stocks such as First Solar (FSLR), Israel's SolarEdge (SEDG) and Canadian Solar (CSIQ) rallied. Chinese solar companies such as JA Solar (JASO) and Yingli Green Energy (YGE) were volatile but closed with little change.

Several retail industry groups also led, though most are in the bottom third of IBD's 197 industry groups.

Hilton Worldwide (HLT) rose past the 67.89 buy point of a base-on-base formation, but volume was soft. The hotel company, one of many leisure stocks leading the market, has been turning itself around. After profit and sales declines in the first half of 2016, Hilton's EPS climbed 8%, 171% and 79% the past few quarters. Sales increased 2% to 25% the past four periods.

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