Business
U.S. markets trade on tight ranges Monday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes moved in narrow ranges Monday as investors await the announcement of a Federal Reserve Bank fund rate decision this week. The Federal Open Market Committee of the Fed meets this week, with a fund rate announcement expected Wednesday. The Dow Jones industrial average posted gains, then slid marginally in midmorning trading Monday, down 8.71 points to 12,883.71, off 0.07 percent. The Standard & Poor's 500 index fell 0.57 points to 1,397.27, off 0.04 percent. The Nasdaq composite index fell 0.48 points to 2,422.45, off 0.02 percent. The 10-year U.S. Treasury note gained 2/32 to yield 3.8666 percent. The dollar fell. The euro traded at $1.5609 from Friday's $1.5596, while the dollar traded at 104.42 yen from Friday's 104.44 yen. In Tokyo, the Nikkei index gained 30.90 points to 13,894.37 Monday, up 0.22 percent. (UPI)
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