News Column

Markets Slow on Global News

March 28, 2013

U.S. stock indexes rose tentatively Thursday as global markets reversed themselves from Wednesday by heading lower in Asia and higher in Europe.

Investors are keeping an eye on developments in Cyprus, where banks opened after 12 days with restrictions on withdrawals to ensure account holders don't overrun the country's troubled banking institutions.

The Kansas City Federal Reserve bank said manufacturing in the district was in contraction, although the pace of contraction had slowed since February.

In midmorning trading on Wall Street, the Dow Jones industrial average added 28.74 points, or 0.2 percent, to 14,554.90.

The S&P 500 gained 1.66 points, 0.11 percent, to 1,564.51.

The tech-oriented Nasdaq composite index added 1.70 points, 0.05 percent, to 3,258.22.

Ten-year U.S. treasury bonds fell 1/32 to yield 1.851 percent.

Against the dollar, the euro rose to $1.2845 from Wednesday's $1.2779. Against the yen, the dollar fell to 94.05 yen from 94.46 yen.

In Tokyo, the Nikkei 225 index shed 1.26 percent, 157.83 points, to 12,335.96.


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Source: Copyright United Press International 2013


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