Business News - U.S. markets higher Thursday morning

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U.S. markets higher Thursday morning

NEW YORK (UPI) -- U.S. stock markets turned higher Thursday morning after a gloomy employment report indicated the loss of 62,000 U.S. jobs.

The Department of Labor said the unemployment rate remained unchanged in June at 5.5 percent, but the unemployment situation "continued to trend down" with the loss of non-farm jobs.

In late-morning trading, the Dow Jones industrial average gained 94.85 or 0.85 percent to 11,310.36 The Standard & Poor's 500 index added 8.99 or 0.71 percent to 1,270.51. The Nasdaq composite index rose 5.86 or 0.26 percent to 2,257.32.

The 10-year U.S. Treasury note fell 4/32 to yield 3.97 percent.

The dollar rose. The euro traded at $1.5711 from Wednesday's $1.588, while the dollar traded at 106.74 yen from Wednesday's 105.99 yen.

In Tokyo, the Nikkei index lost 20.97 points to 13,265.40, off 0.16 percent.

Copyright 2008 by United Press International

This news arrived on: 07/03/2008

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