Recent News Articles
U.S. markets open mixed Wednesday
U.S. stock markets opened mixed Wednesday as investors sorted through a slew of economic reports.
Reports from China and Europe showed business activity slowing. The service sector in China continued to grow with the Purchasing Manager”s Index for services in China dropping to 53.7 in September from an August posting of 56.3.
In Europe, the service sector PMI came to 46.1 in September, a small improvement from August, but still showing contraction, as numbers below 50 indicate business activity slowing down.
On the domestic front, Automatic Data Processing Inc. said 162,000 jobs were added to the economy in September, a smaller job gain than August, when ADP said 189,000 jobs were added, 12,000 fewer than previously announced.
In midmorning trading on Wall Street, the Dow Jones industrial average lost 26.34 points, or 0.2 percent, to 13,456.02. The Nasdaq composite index added 2.21 points, or 0.07 percent, to 3,122.25. The Standard & Poor”s 500 index shed 1.74 points, or 0.12 percent, to 1,444.01.
The benchmark 10-year treasury note fell 1/32 to yield 1.627 percent.
The euro fell to $1.2897 from Tuesday”s $1.2919. Against the yen, the dollar rose to 78.45 yen from 78.18 yen.
In Tokyo, the Nikkei 225 index dropped 0.45 percent, 39.18, to 8,746.87.
Copyright 2012 by United Press International