News Column

Markets Rally a 3rd Day, Though Slower

Jan. 3, 2013
wall street

After an early slump, U.S. markets turned around Thursday, keeping the rally supported by the end of fiscal cliff fears going for a third day.

In early-afternoon trading, after two sessions of sharp gains, the Dow Jones industrial average gained 0.12 percent, or 15.44 points, to 13,427.99. The Nasdaq added 4.68 points, or 0.15 percent, to 3,116.94. The Standard and Poor's added 2.84 points, 0.19 percent, to 1,465.26.

Stocks gained momentum after Automatic Data Processing Inc. said 215,000 private sector jobs were added to the economy in December, far more than economists had predicted.

The 10-year treasury note was off 6/32 to yield 1.862 percent.

The euro fell to $1.311 from Wednesday's $1.3185. The dollar fell to 87.08 yen from 87.34 yen.

In London, the FTSE 100 index gained 0.33 percent, 19.97, to 6,047.34.

Markets in Japan were closed.

Source: Copyright United Press International 2013

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