News Column

Markets Take an Upward Turn on Friday

April 19, 2013

U.S. stock indexes rose Friday, closing out a volatile week in which corporate reports knocked back initial enthusiasm.

The latest corporate report to backfire came from International Business Machines. Stock values for IBM dropped 8.28 percent after its first quarter report failed to meet to expectations.

The Dow Jones industrial average closed with a modest gain of 10.37 points, up 0.07 percent to 14,547.51. The S&P 500 added 13.64 points, or 0.88 percent, to 1,555.25. The Nasdaq index of tech-dominated stock gained 39.69 points, or 1.25 percent, to 3,206.06.

On the New York Stock Exchange, 2,213 stocks advanced and 842 declined on a volume of 3.5 billion shares traded.

Gold pulled ahead for the second consecutive trading session, up $9.50 to $1,402 per troy ounce on the Comex division of the New York Mercantile Exchange. NYMEX West Texas Intermediate crude oil closed at $87.95 per barrel, up 22 cents.

The 10-year U.S. treasury note fell 6/32 to yield 1.708 percent.

Against the dollar, the euro was lower at $1.305 from Thursday's $1.3052. Against the yen, the dollar rose to 99.55 yen from 98.16 yen.

The Nikkei 225 in Japan rose 0.73 percent or 96.41 points to 13,316.48. The FTSE 100 index in Britain climbed 0.69 percent or 42.92 points to 6,286.59.

On the Chicago Board of Trade, corn for May delivery added 4.5 cents to $6.49 per bushel. July soybeans dropped 8.25 cents to $13.8175 and July wheat added 5.75 cents to $7.125.




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Source: Copyright UPI 2013


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