News Column

Mixed Markets on Monday

June 10, 2013
Bull and bear market

U.S. markets barely flinched Monday after credit rating firm Standard & Poor's upgraded the U.S. rating outlook from negative to stable.

The S&P cited an improved outlook for the nation's debt, though it acknowledged brinkmanship was still an issue in Washington.

But the rating firm said the next time the debt ceiling needs to be raised, it won't matter as much as it did when gridlock on the issue prompted the first time ever U.S. rating cut from the top slot of AAA.

S&P left the U.S. rating at AA plus Monday, but changed its outlook status from negative to stable.

On the big boards, the Dow Jones industrial average lost 9.53 points or 0.06 percent, to close at 15,238.59.

The Standard & Poor's 500 shed 0.57 points, or 0.03 percent, to finish at 1,642.81.

The Nasdaq composite gained 4.55 points or 0.13 percent, to 3,473.77.

On the New York Stock Exchange, 1,365 issues advanced and 1,700 declined on total volume of 2.9 billion shares.

In Japan, the Nikkei 225 index jumped 4.71 percent to close at 13,512.30. In Britain, the FTSE 100 lost ground, dropping 0.18 percent to close at 6,400.45.

The 10-year treasury note lost 11/32 to yield 2.215 percent.

Crude oil prices closed at $95.76 a barrel Monday on the New York Mercantile Exchange, down slightly. Gold added $2.70 to reach $1,385.70 a troy ounce on the Comex division of the New York Mercantile Exchange.

On currency markets, the euro rose to $1.326 Monday from Friday's closing mark of $1.3192. Against the yen, the dollar was higher at 98.69 from 97.85 yen.

On the Chicago Board of Trade, corn finished off 17 cents at $6.49 1/4, while soybeans dropped 11 3/4 cents to close at $13.18 1/2 and wheat dropped 6 cents to finish at $6.90 1/4.

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Source: Copyright UPI 2013

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