US stocks edge up, helped by semiconductors

NEW YORK, Sept 18 (Reuters) U.S. stocks edged higher on Monday as gains in semiconductor makers and related companies helped offset a downgrade of Home Depot Inc.'s stock.

Freescale Semiconductor Inc. jumped 5.8 percent to .33. The chip maker said on Friday it agreed to be bought for .6 billion by a private equity consortium. For details, see ID:nN15193123 Applied Materials Inc., the top supplier of equipment for making microchips, climbed 2.8 percent to .68. Applied Materials said on Monday it repurchased shares for around NEW YORK, Sept 18 (Reuters) U.S. stocks edged higher on Monday as gains in semiconductor makers and related companies helped offset a downgrade of Home Depot Inc.'s stock.

Freescale Semiconductor Inc. jumped 5.8 percent to $39.33. The chip maker said on Friday it agreed to be bought for $17.6 billion by a private equity consortium. For details, see ID:nN15193123 Applied Materials Inc., the top supplier of equipment for making microchips, climbed 2.8 percent to $17.68. Applied Materials said on Monday it repurchased shares for around $2.5 billion under an accelerated stock buyback program. ID:nWNAS7183 Some investors avoided placing bets before the Fed's policy meeting on Wednesday, traders said. Stocks have been on a steady climb since mid-August following the Fed's first pause in August after 17 straight rate increases.

Home Depot, the biggest drag on the Dow, fell 1.3 percent to $36.75 after Credit Suisse lowered its rating on the largest home improvement retailer and cut its price target to $37 from $40.

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The Dow Jones industrial average was up 12.48 points, or 0.11 percent, at 11,573.25. The Standard&Poor's 500 Index was up 2.35 points, or 0.18 percent, at 1,322.22. The Nasdaq Composite Index was up 5.13 points, or 0.23 percent, at 2,240.72.

REUTERS DKS RS2114 .5 billion under an accelerated stock buyback program. ID:nWNAS7183 Some investors avoided placing bets before the Fed's policy meeting on Wednesday, traders said. Stocks have been on a steady climb since mid-August following the Fed's first pause in August after 17 straight rate increases.

Home Depot, the biggest drag on the Dow, fell 1.3 percent to .75 after Credit Suisse lowered its rating on the largest home improvement retailer and cut its price target to from .

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The Dow Jones industrial average was up 12.48 points, or 0.11 percent, at 11,573.25. The Standard&Poor's 500 Index was up 2.35 points, or 0.18 percent, at 1,322.22. The Nasdaq Composite Index was up 5.13 points, or 0.23 percent, at 2,240.72.

REUTERS DKS RS2114