News Column

Stock Markets Flat Thursday Morning

November 8, 2012

Stocks were slightly lower in New York Thursday morning, but investors seemed to control their skittishness after Wednesday drop. The Dow Jones industrial average gave up more than 300 points Wednesday to fall below 13,000 as investors were bearish on election results that handed a victory to President Barack Obama, but also solidified a Republican majority in the House.

On Thursday, the Commerce Department said the U.S. trade deficit shrank in September, dropping from a revised August trade gap of $43.8 billion to $41.5 billion.

In midmorning trading on Wall Street, the DJIA was off 15.32 points or 0.12 percent to 12,917.41.

The Nasdaq composite index shed 4.14 points or 0.14 percent to 2,933.14. The Standard and Poor's 500 index dropped 1.55 points or 0.11 percent to 1,392.98.

The benchmark 10-year treasury fell 2/32 to yield 1.675 percent.

The euro fell to $1.2737 from Wednesday's $1.2771. Against the yen, the dollar fell to 79.88 yen from 80 yen.

In Tokyo, the Nikkei 225 index lost 1.51 percent, 135.74 points, to 8,837.15.

Source: Copyright United Press International 2012

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