News Column

Markets Flat Friday Morning

Oct. 26, 2012
wall street

U.S. stocks opened flat Friday in New York after the Commerce Department said the gross domestic product rose marginally in the third quarter.

In an advanced estimate, Commerce said the GDP rose by 2 percent in the quarter, which is faster growth than the 1.3 percent gain of the second quarter. It was also one tick better than the 1.9 percent gain economists had forecast.

In midmorning trading, the Dow Jones industrial average added 6.33 points or 0.5 percent to 13,110.01. The Nasdaq composite index gained 6.14 points or 0.21 percent to 2,992.26. The Standard and Poor's 500 index gained 0.14 points or 0.01 percent to 1,413.11.

The benchmark 10-year treasury note rose 13/32 to yield 1.783 percent.

The euro rose to $1.2943 from Thursday's $1.2934. Against the yen, the dollar fell to 79.62 yen from 80.29 yen.

In Japan, the Nikkei 225 index added dropped 1.35 percent, 122.14 points, to 8,933.06.

Source: Copyright United Press International 2012

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