Markets move into positive territory

NEW YORK, Oct. 7 (UPI) --

U.S. stock indexes turned up Tuesday morning after the Federal Reserve said it would begin to purchase asset-backed and unsecured short-term debt.

Markets were buoyed by the move, which would puts movement back in a frozen commercial paper market worth about $1.6 trillion.

In early Tuesday trading, the Dow Jones industrial average was up 53.28 points, or 0.54 percent, to 10,008.78. The Standard and Poor's 500 gained 0.47 percent, 5 points, to 1,061.89. The Nasdaq composite index gained 1.77 points, 0.1 percent, to 1,864.73, up 0.1 percent.

The benchmark 10-year U.S. Treasury bond fell 20/32 to yield 3.532 percent.

The dollar was mixed. The euro rose to $1.3686, compared to $1.3519 Monday. Against the Japanese yen, the dollar rose to 102.42 yen, up from 101.61 yen.

In Tokyo, the Nikkei average lost 317.19 points to 10,155.90, off 3.03 percent.


Copyright 2008 by United Press International
All Rights Reserved.

Times of the Internet, now in Spanish


Published: Tuesday 07th of October 2008 10:12:07 AM
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