U.S. stock indexes mixed at midday

Posted on Aug 8, 2012 in Business | 0 comments

U.S. stock indexes were mixed in midday trading Wednesday, reacting to news about Spain”s financial woes and domestic productivity.

The Dow Jones industrial average gained 2.53 points, 0.02 percent, to 13,171.13.

The Nasdaq was off 3.63 points, 0.12 percent, to 3,012.23.

The Standard & Poor”s 500 picked up 0.13 point, 0.01 percent, to 1,401.48.

Spain was forced to pay more to borrow in a $3.7 billion auction of short-term government debt. Wider investor worry over the eurozone also forced Italian and German yields higher.

Domestically, the U.S. Labor Department reported productivity increased at a 1.6 percent annual rate in the second quarter. However, labor costs rose by 1.7 percent.

The 10-year U.S. treasury bond was yielding 1.627 at midday.

Against the euro the dollar was $1.2365 Wednesday from $1.24 Tuesday. Against the yen, the dollar was 78.45 Wednesday from 78.62 Tuesday.

In Tokyo, the Nikkei closed at 8,881.16, up 77.85 points, or 0.88 percent.

In London, the FTSE 100 closed at 5,845.92, up 4.68, or 0.08 percent.

Copyright 2012 by United Press International