News Column

Markets Find Traction Thursday

May 10, 2012
bull market

Stocks on Wall Street made tentative gains Thursday with the Dow Jones industrial average up 64 points after a six-day slump.

Markets were mixed in Asia, but higher across Europe, boosting confidence in New York despite a government report that said the U.S. trade deficit rose from $45.4 billion to $51.8 billion in March.

In early afternoon trading, the DJIA gained 64.26 points, or 0.5 percent, to 12,899.32. The tech-heavy Nasdaq composite index added 6 points, or 0.2 percent, to 2,940.71. The Standard & Poor's 500 index added 8.23 points, or 0.61 percent, to 1,362.81.

The 10-year benchmark treasury note dropped 2 29/32 to yield 1.902 percent.

The euro rose to $1.2958 from Wednesday's $1.293. Against the yen, the dollar rose to 79.94 yen from 79.63 yen.

In Tokyo, the Nikkei 225 index lost 35.41 percent, 0.39, to 9,009.65.

In London, the FTSE 100 index gained 0.25 percent, 13.90, to 5,543.95.

Source: Copyright United Press International 2012

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