Business News - U.S. markets up slightly Wednesday

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U.S. markets up slightly Wednesday

NEW YORK (UPI) -- U.S. stock indexes moved upward Wednesday in New York despite negative news concerning job layoffs.

Layoffs slowed in June compared with May, but the second quarter ended with average layoffs above 90,000 per month, Challenger, Gray & Christmas Inc., an international outplacement consultancy, said Wednesday.

In midmorning trading, the Dow Jones industrial average gained 39 points to 11,421.26, up 0.34 percent. The Standard and Poor's 500 index rose 7.05 to 1,291.96, up 0.55 percent. The Nasdaq composite index rose 6.19 points to 2,311.16, up 0.27 percent.

The 10-year U.S. Treasury note gained 4/32, to yield 3.994 percent.

The euro traded at $1.5852 from Tuesday's $1.5783, while the dollar traded at 106.17 yen from Tuesday's 106.11 yen.

In Tokyo, the Nikkei index lost 176.83 points to 13,286.37, off 1.31 percent.

Copyright 2008 by United Press International

This news arrived on: 07/02/2008

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