Business News - U.S. indexes up slightly Tuesday afternoon

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U.S. indexes up slightly Tuesday afternoon

WASHINGTON (UPI) -- U.S. stock indexes rose Tuesday after Federal Reserve Bank Chairman Ben Bernanke said short term lending "remains strained."

In a speech in Arlington, Va., Bernanke said the Fed was considering extending two temporary lending programs for primary dealers put together after the collapse of investment bank Bear Stearns in March.

In early afternoon trading Tuesday, the Dow Jones industrial average was up 44.45 points to 12,276.41, up 0.4 percent. The Standard and Poor's 500 index rose 3.74 points to 1,260.15, up 0.3 percent. The Nasdaq composite index rose 16.83 points to 2,259.97, up 0.75 percent.

The 10-year U.S. Treasury note rose 6/32 to yield 3.88 percent.

The euro traded at $1.5657 from Monday's $1.5719, while the dollar traded at 107.443 yen from Monday's 107.15 yen.

In Tokyo, the Nikkei index lost 326.94 points to 13,033.10, off 2.45 percent.

In London, the FTSE 100 index fell 72.20 to 5,440.50, off 1.31 percent.

Copyright 2008 by United Press International

This news arrived on: 07/08/2008

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