U.S. stock indexes dip into red at midday
Posted by | Posted in Business News | Posted on 11-07-2011
NEW YORK, July 12 (UPI) — U.S. stock indexes slipped into the red at the New York Stock Exchange Tuesday after floating around the break-even point in morning trading.
The Dow Jones industrial average was down in early afternoon trading, off 9.80 points or 0.08 percent to 12,496.00.
The Nasdaq was off 10.57 points or 0.38 percent to 2,792.05
The Standard & Poor’s 500 dipped 0.37 points or 0.03 percent to 1,319.12
Investors were keeping an eye on Europe and its own economic crisis threatening to spread from Greece to countries such as Italy and Spain.
“The market is skittish,” Ed Cowart, managing director and co-portfolio manager of the Eagle Growth and Income Fund, told The Wall Street Journal. “The thing that’s keeping it capped on the upside is these big European macro problems that no one can really get their arms around.”
On the domestic front, the Commerce Department also said the U.S. trade gap for goods and services grew by $50 billion in May.
The 10-year treasury note was 2.91 percent.
The euro fell to $1.4003 from Monday’s $1.4047. Against the yen, the dollar was 79.4955 yen from Monday’s 80.2850 yen.
In Tokyo, the Nikkei Average finished trading at 9,926.54, down 144.99 points.
In London, the FTSE closed at 5,868.96, off 60.20.
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