Business News - U.S. markets rebound at close Tuesday

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U.S. markets rebound at close Tuesday

NEW YORK (UPI) -- U.S. stock indexes climbed out of the doldrums Tuesday on encouraging news from auto giant General Motors Corp.

GM sales came in ahead of expectations, but Ford sales fell 28 percent in June, The Wall Street Journal reported.

The purchasing managers index also rose in June to its first positive reading in four months, the Institute of Supply Management reported.

By close Tuesday, the Dow Jones industrial average gained 32.25 points to 11,382.26, up 0.28 percent. The Standard and Poor's 500 index rose 4.91 to 1,284.91, up 0.38 percent. The Nasdaq composite index rose 11.99 to 2,304.97, up 0.52 percent.

On the New York Stock Exchange, 1,333 stocks advanced and 1,832 declined on a volume of 1.64 billion shares traded.

The 10-year U.S. Treasury note gained 8/32, to yield 4.008 percent.

The euro traded at $1.5796 from Monday's $1.5744, while the dollar traded at 106.08 yen from Friday's 106.18 yen.

In Tokyo, the Nikkei index lost 18.18 points to 13,463.20, off 0.13 percent.

In London, the FTSE 100 index lost 146 points to 5,479.90, off 2.6 percent.

Copyright 2008 by United Press International

This news arrived on: 07/01/2008

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