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Markets close flat
U.S. stock indexes turned flat Wednesday on mixed economic news.
The Department of Labor revised a second quarter U.S. non-farm productivity report to show 2.2 percent growth, up from an earlier estimate of 1.6 percent.
Economic research firm Markit said Europe’s Purchasing Managers Index for service-oriented businesses fell to 47.2 percent in August from July’s 47.5 percent.
By close of trading, the Dow Jones industrial average gained 11.54 points or 0.09 percent to 13,047.48. The tech-heavy Nasdaq Composite index lost 5.79 points or 0.19 percent to 3,069.27. The Standard and Poor’s 500 shed 1.50 points or 0.11 percent to 1,403.44.
On the New York Stock Exchange, 1,423 issues advanced and 1,564 declined on a volume of 3.1 billion shares traded.
The benchmark 10-year treasury fell 5/32 to yield 1.595 percent.
The euro rose to $1.2602 from Tuesday’s $1.2565. Against the yen, the dollar fell to 78.4 yen from 78.41 yen.
In Tokyo, the Nikkei 255 index lost 1.09 percent, 95.69 points, to 8,679.82.
In London, the FTSE 100 index lost 0.25 percent, 14.15, to 5,657.86.
Copyright 2012 by United Press International