News Column

Bedraggled Markets Open Flat

Nov. 9, 2012
Wall Street

Stocks headed into positive territory in New York Friday morning following losses in Asia and Europe and ahead of President Obama's scheduled remarks.

Investors are focused on Greece, where members of parliament will vote Sunday on an austerity budget that could make or break the international community's willingness to continue with bailout loans.

In Washington, President Barack Obama is scheduled to hold a press conference that is expected to stress bipartisanship to move the economy forward.

The Department of Labor Statistics said Friday import prices rose 0.5 percent in October after economists had predicted prices would remain unchanged.

In midmorning trading, the Dow Jones industrial average after opening lower added 19.08 points or 0.15 percent to 12,830.40.

The Nasdaq composite index gained 19.27 points or 0.67 percent to 2,914.85. The Standard and Poor's 500 index added 6.07 points or 0.44 percent to 1,383.58.

The benchmark 10-year treasury fell 5/32 to yield 1.637 percent.

The euro fell to $1.271 from Thursday's $1.2747. Against the yen, the dollar fell to 79.5 yen from 79.48 yen.

In Tokyo, the Nikkei 225 index lost 0.9 percent, 79.55 points, to 8,757.60.

Source: Copyright United Press International 2012

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