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U.S. stocks closed mixed
U.S. stocks closed mixed Wednesday, as gains faded late in the day.
Economic data was mixed. Britain said its gross domestic product fell further than expected in the second quarter. The National Statistics Office said the GDP dropped 0.7 percent from the first quarter. Economists had forecast a 0.2 percent decline.
Data was not all glum. The U.S. Commerce Department said sales of new family homes rose 15.1 percent in June 2012 over June 2011 in a report that supports data released earlier in the week that showed home prices on the rise.
By the close of trading on Wall Street, the Dow Jones industrial average added 58.73 points, 0.47 percent, to 12,676.05 in mid-afternoon trading. The Standard & Poor”s 500 index shed 0.42 points, or 0.03 percent, to 1,337.89. Tech-heavy Nasdaq composite index lost 8.75 points, or 0.31 percent, to 2,854.24.
On the New York Stock Exchange, 1,614 stocks advanced and 1,410 declined on a volume of 3.5 billion shares traded.
The benchmark 10-year treasury note fell 4/32 to yield 1.405 percent.
The euro rose to $1.215 from Tuesday”s $1.2061. Against the yen, the dollar fell to 78.14 yen from 78.19 yen.
In Tokyo, the Nikkei 225 index lost 1.44 percent, 122.19, to 8,365.90.
In London, the FTSE 100 index was flat, dropping 0.02 percent, 0.91 points, to 5,498.32.
Copyright 2012 by United Press International