News Column

Markets Turn Higher Tuesday

Jan. 22, 2013
new york stock exchange

U.S. stock indexes reversed direction Tuesday in New York, regaining regain early losses by mid-afternoon.

USA Today reported White House press secretary Jay Carney said President Barack Obama "would not stand in the way" of a three-month extension to the debt ceiling, which would give lawmakers more time to hash out differences on the next federal budget.

The National Association of Realtors said existing home sales dropped 1 percent November to December, but sales of previously owned homes were still elevated from a year earlier.

In early-afternoon trading, the Dow Jones industrial average added 44.57 points, 0.33 percent, to 13,694.27. The Nasdaq composite index gained 1.57 points or 0.05 percent, to slip to 3,136.28. The Standard and Poor's 500 gained 3.37 points or 0.23 percent to 1,489.35.

The 10-year treasury note yielded 1.836 percent.

Against the dollar, the euro was $1.3311 from Friday's $1.3313. The dollar dropped against the yen, hitting 88.70 yen from 89.62 yen.

In Tokyo, the Nikkei 225 index lost 0.35 percent, 37.81 points, to 10,709.93.

In London, the FTSE 100 index lost 0.03 percent, 1.81 points, to 6,179.17.


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Source: Copyright United Press International 2013


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