Business
U.S. markets push upward Wednesday
New York | May 09, 2008 12:01:13 AM IST
Stock indexes pushed upward Wednesday in early afternoon trading on a mix of economic reports. The U.S. Commerce Department said the gross domestic product had risen a modest 0.6 percent in the first quarter. ADP National Employment said the nation gained 10,000 private jobs in the month, while the Mortgage Bankers Association said home financing activity declined on the month. The Dow Jones industrial average gained in early afternoon trading to 12,936.15, up 104.21 points or 0.81 percent. The Standard & Poor's 500 gained 5.02 to 1,395.96, up 0.36 percent. The Nasdaq composite index gained 12.38 to 2,438.48, up 0.51 percent. The 10-year U.S. Treasury note rose 1/32 to yield 3.822 percent. The dollar was mixed. The euro traded at $1.5574 from Tuesday's $1.5666, while the dollar traded at 104.49 yen from Tuesday's 104.02 yen. In Tokyo, the Nikkei index lost 44.38 points and closed at 13,849.99, down 0.32 percent. In London, the FTSE 100 index fell 3.00 to 6,086.40, off 0.05 percent. (UPI)
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